Category: Branch Strategy

Branch Strategy

Digital Strategy – leverage member feedback from branch and…

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”

Branch Strategy

The Continuing Evolution of the “Branch”

What is a branch, really?

While I hold firm to the idea that what we consider the “traditional” brick-and-mortar location is not going away anytime soon, it is an almost certainty that the concept of what a branch “is” will continue change dramatically over the next 2…5…10…years…both from the standpoint of a place where customers physically go to perform banking transactions as well as the continuing evolution of virtual banking.

This article from American Banker / Credit Union Journal focuses primarily on video banking via mobile, but that’s really just one approach across a broad spectrum of branch strategy, evolution, and transformation:

Read more “The Continuing Evolution of the “Branch””