Guest: Doug Wadsworth

Community finance is under pressure. On this episode of Credit Union Conversation, Mark Ritter sits down with Doug Wadsworth to unpack the realities facing small credit unions, including expanding regulatory burdens, rising compliance costs, and growing competition among credit unions. They discuss why credit union advocacy matters, how the cooperative model must evolve, and what practical leadership looks like when serving members in an increasingly complex financial environment.

IN THIS EPISODE:

  • 00:00 Doug shares his journey into the credit union space and his introduction to small credit unions
  • 06:25 The challenges of obtaining services, the weight of NCUA examinations, and the rising regulatory burden on small credit unions
  • 17:18 Survey results reveal growing credit union competition from larger credit unions over smaller ones
  • 21:04 Breaking down compliance costs, HMDA reporting, and NMLS registration
  • 27:58 Advocacy efforts aimed at achieving regulatory relief for small credit unions
  • 31:15 A vision for strengthening the cooperative model and sustaining community finance

KEY TAKEAWAYS:

  • Small credit unions face a disproportionate regulatory burden that limits growth and operational flexibility
  • Strong credit union advocacy can reduce unnecessary compliance costs and drive reform
  • Preserving the cooperative model is essential as financial institutions increase competitive pressure

RESOURCE LINKS:

Mark Ritter – LinkedIn
Doug Wadsworth – LinkedIn
Keep It Simple – Book by Doug Wadsworth

Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership.