How does your Credit Union’s operations strategy align with and drive your digital strategy? Credit Union mergers and consolidation has caused the number of CU charters to decrease by 35.3%, down to 5,859, since 2005 (bank charters are down to 5,856). Undoubtedly, online and mobile app usage continues to increase due to ease of use, efficiency, cost and availability. The average number of branches per CU charter has increased (likely due to aforementioned consolidations).
Credit Unions should keep a watchful eye on spending. Staff and expenses associated with running branches and contact centers aren’t cheap. Member service organizations can, and should, leverage member feedback to drive digital strategy. Read more “Digital Strategy – leverage member feedback from branch and contact center”