Just when you thought ATMs had to be going down for the count—and, honestly, who didn’t think that as the pandemic took hold?—the rumbling is loud that ATMs are emerging as a low cost branch replacement option.
In 2020, everything changed. The pandemic fundamentally shifted the way we work, bank, and play toward digital. What role will cash play in our future? And how does that affect credit unions?
The novel coronavirus, or COVID-19, reached pandemic status nearly a year ago. When we first wrote this blog, hundreds of new cases were springing up across the U.S., and most of them were in New York. Today, after what feels like 74 months of social distancing, civil unrest, and murder hornets, we’re seeing the vaccine roll out to high-priority demographics.
Yet over 200,000 new cases are identified daily. And as cases continue to spread throughout the U.S., many companies are reviewing their policies, processes, and procedures for the long term. Instead of short-term branch closures, we’re looking to long-term changes we can make. Many companies are switching permanently to remote work. Digital events are extremely popular and they may continue to be. At least we can all buy toilet paper again.
In times like these, credit unions can step up for their members while also keeping themselves safe. Here are a few Coronavirus safety and prevention tips for credit unions.
2.5% of all First-Class Mail® is returned. That may not seem like a significant amount. I assure you that it is. In the volume that credit unions send statements, notices, forms, and other documents, thousands of envelopes may be returned each month.
In case you missed it—and you probably did—last week wrapped up the first in-person conference in the country for credit unions during the time of COVID-19. There were many restrictions in place, but at times, a lot of it felt surprisingly normal.