The “we’ve always done it this way” mentality will cripple your credit union as your competition adopts the latest technology and business practices to maintain success and growth. Continuing to operate as-usual year over year without change creates challenges for your credit union operations, and ultimately your members. Therefore, it is critical to continually evaluate new processes and opportunities to achieve your credit union’s current and future goals.
Today, we have outlined the top business challenges facing credit unions that are opposed to change, as well as a few ways to effectively implement change:
Today, we have outlined the top business challenges facing credit unions that are opposed to change, as well as a few ways to effectively implement change:
- Challenge: We’ve always relied on face-to-face interaction
The Wall Street Journal recently released an article claiming retail banking automation could take over 30% of credit union and banking jobs across the United States within the next ten years. The rise in digital banking has forced credit unions to think differently about member engagement. As brick and mortar locations are closing all over the United States, most that remain open are downsizing employee counts in lieu of Intelligent Teller Machines (ITM).
Solution: With the rapid decline of face-to-face interactions, most of your members will develop their opinions of your credit union based on your website, online banking, ePresentment, and print & mail communications. These communications should be designed to give your members a streamlined, personal experience. Think self-serve options, ease of use and mobile responsive designs! READ MORE>>
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