A dirty secret inside credit unions is that many frontline workers – and very possibly most senior staff – just do not use their institution’s digital banking tools. Why bother when you work in a branch? Just walk up to a teller and, whoosh, task handled.
Just when you thought business couldn’t get tougher—most credit unions now are wrestling with collapsing loan revenues as interest rates continue to tumble. And yet, more non-bank competitors enter the fray.
Ask Larry Nichols, CEO of Member Driven Technologies, a Michigan based CUSO, what’s in the future for credit unions and he has a one word answer: Digital.
Branches are not going away. That’s a firm belief of Nathan Rogers, a longtime financial services executive who has spent many years in shared branching – a feature he calls a significant credit union strategic advantage.