Bruno Sementelli, CEO of Quorum Federal Credit Union (QFCU), leveraged a new website along with digital branch technology to implement automation within his braches. QFCU wanted unrestricted access at employer branch locations, but space was always a limitation, so they went digital.
Updating the website was a huge focus since QFCU lacked a member geographic center. In terms of branch automation and technology, QFCU went through three to four manufacturers before it reached a functionality level. In terms of member adoption, QFCU focused on maintaining personal relationships and building trust, not only with members but also with employees.
In regards to branch automation, QFCU saw immediate results. Some employees adapted well to the changes and were promoted; others were let go. QFCU closed five branches, and the ones that were left were managed with one or two people.
QFCU saw more than a 50 percent penetration rate with multiple products and use of online/mobile banking. The website should be seen as a credit union’s entire operations area—be sure to enable self-service as much as possible.
Some members have moved on over the years as they’ve shifted employers, but according to Sementelli, the ones who have lived through the transition have noticed the difference. “You have to accept that you will not serve all members and you will have some attrition,” he said.
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