When Google/Microsoft/BofA/Wamu enters your market

Bank of America is still building out branches and their ATM structure like crazy.  Wamu is every where.  We even have super tough competition coming in from CU’s that historically have been in other cities and are 5 times our size.  What is a credit union to do?

Google just stepped into the browser marketplace with Chrome.  Building on other open source projects, they’ve thrown their development staff and large stash of capital behind launching a new browser project.  It is different then most other browsers, is smokin’ fast, and combines many common tasks into a simple process, like search.  Go figure.

The competition in the credit union space is only going to get worse.  In my CUSO side of life, there is really only one main competitor and they own the entire marketplace.  They are the Microsoft of my market.  So what are small CU’s, or small CUSO’s, going to do to stay alive?  Can we really survive based solely in niche markets?