Partner Lawrence Remmel, Chair of Pryor Cashman’s Banking and Finance Group, was interviewed by Credit Union Times for its April 27, 2011 article “The Jigsaw Puzzle: Redefining Tomorrow’s Corporates.” The article discusses what corporate credit unions need to do in order to stay relevant in today’s turbulent economic times.

While many experts are proposing a complete overhaul of the system of corporates, Remmel maintains regional corporates have a bright future.  "New technologies will let smaller, regional corporates survive and they also have unique regional advantages. It is better, particularly for a smaller credit union, to do business with a regional corporate that is attuned to their interests.”

A Wisconsin corporate - a Corporate Central, for instance - just will understand upper Midwest credit unions better, said Remmel, and this will lead to harmonious business dealings that go beyond simple business fundamentals. “Smaller corporates are closer to their communities and that matters.”

On the other hand, Remmel isn’t so optimistic about the future of larger corporates. “They will not be able to compete. They don’t have regional advantages. They are in direct competition with large, national banks and the banks will win.”

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