Another Limb Lopped off of the Branch

by Ron Daly

When you ask your average CU professional about their "gold level" members, you're probably going to get a pretty similar description all around: older people with plenty of money who stop in every so often to see what's shaking at their credit union. They've got time and they've got resources and the only thing they use the internet for is leisure. 

Does your CU have a lot of members who fit this profile? If so, lucky you. How many people between the ages of 18 and 30 do you see every day? 

Can you think of one? Can you name any of them? 

The writing is on the wall, folks: younger members aren't enthralled by the branch anymore. 

As of today, a person who wants to join a financial institution in this country can find said institution online. They can join online, transfer funds online, pay bills online, talk to help centers online...it's safe the say the only thing they CAN'T do online is deposit money!

Oh, wait...they can do THAT now, too. (Click Here for the Full Story)

So, your customers are doing EVERYTHING over the web. What does that mean? In the midst of this downturn, what are you doing to shore up your membership and get the member on your side? 

And here's where the concept of pushing services to members becomes tricky. If you say you want to invest more in your online services, consider what that detracts from the members who DO rely on your branches...and your tellers/specialists who will be worrying about their job security. 

If you say you want to put more emphasis on the branch, how many do you exclude? And what more can you add to the services you already provide? 

THE QUESTION: 

What will your CU be doing - in this last quarter and the next year - to get the MOST out of your member relationships? 

Answer below in our "Comments" section.

Read what some CUs are doing in this article from the CU Journal.