Credit unions have reported a string of significant milestones across 2021. Over the past few months, we’ve been able to speak with hundreds of credit leaders and wanted to share some of the key themes we’ve been hearing.
Digital Transformation
Digital transformation has been top of mind for a long time now. We think it really means to focus on modernizing processes to make them easier, and more efficient, for employees and members.
Reducing member friction is critical, especially as consumer demands for convenience continues to increase. We’re competing with technology that makes it easier to get the job done in just a few simple clicks. When we’re comparing ourselves to other credit unions and banks it’s important to remind ourselves that in our members’ eyes, we’re just another errand.
Learn From Leading Credit Unions
- How To Convert Members To Digital During A Pandemic
- What’s In A Name: Digital Services Architect
- High-Tech Meets High-Touch: How Avatars Help 5 Credit Unions Advance Member Services
- What Does Digital First Mean For Clearview FCU?
Financial Inclusion
Financial inclusion is a phrase we’ve been hearing more and more. It makes us ask ourselves, how do credit unions make people feel safe and more trusting of their financial cooperative?
We believe transparency is critical. It’s about the words you use, how you market yourselves, how you train your staff not to judge so members feel safe enough to contact your institution. If someone needs a helping hand, credit unions are there with options and resources, yet many people don’t call or take advantage of it. Positioning yourself to be a trusted resource is critical for cooperative success.
Keep Connected With Other Credit Unions
To continue the conversation and share ways to combat financial barriers, join Callahan’s Impact Network. This group consists of more than 400 credit union leaders who believe cooperative impact is important. There’s no cost or commitment to join. Join the network.
Renewed Focus On Mission And Purpose
Credit unions hold a key advantage to distinguishing themselves in the marketplace. That advantage is the commitment to the credit union difference. . Callahan has several resources that can help you redefine your mission and engage members and employees through a new sense of purpose.
Lead With Purpose
Registration is now open for our January cohort of Sustainable Business Strategy with Rebecca Henderson, a collaboration with Harvard Business School Online that guides you through new contexts and mindsets for being truly purpose-driven and values-based. Join our alumni network of 150+ credit union leaders that are working to drive purpose at their credit unions. Learn more here.
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