How Credit Unions Can Compete in Wealth Management

Credit unions have long stood as pillars of trust, service, and community. But when it comes to wealth management, many have struggled to keep pace with larger banks and independent RIAs. Historically seen as conservative financial partners, credit unions often hesitated to expand into more complex advisory services.

Mike Prior, CEO of Priority Financial Group, is rewriting that narrative.

Through smart use of technology, analytics, and the RIA model, Mike is proving that credit unions can not only enter the wealth management arena—they can thrive in it. By modernizing their approach, credit unions can deliver personalized financial planning, build deeper client relationships, and scale their services without losing sight of their core mission: putting members first.

Here’s the truth: Credit unions already have what clients are craving—personalized service, financial education, and a strong sense of community. What’s missing isn’t trust or commitment—it’s access to the right tools, strategies, and partnerships.

Key strategies for credit unions to succeed in wealth management:

• Leverage technology to offer scalable, compliant advisory services.
• Use data analytics to personalize financial advice and deepen engagement.
• Adopt the RIA model to provide fiduciary services that align with member-first values.
• Invest in advisor training to ensure consistent, high-quality client experiences.
• Create succession and growth plans to sustain momentum across generations.

By embracing innovation and leaning into their existing strengths, credit unions can finally deliver the kind of holistic wealth management experience their members deserve—and expect.

These insights are inspired by The Connected Advisor podcast featuring Mike Prior, CEO of Priority Financial Group. Listen to the full episode here and explore more articles in this series.