Members want it all ways. They want best-in-class, personalized and fast service in branch, and they prefer only to come inside the branch if they feel like it. If they are using DIY services, they want them to be user-friendly, intuitive, and efficient. New technology is flowing out all around us in everything we do, and it's reinventing the way we interact with the world and each other. If your credit union can't provide the services your members want today and tomorrow, they can find one that will with a few clicks of their smartphone. Don't let your core be the reason you can't keep up with the pace of innovation.

Your members live in a modern world where they are reliant on technology and the internet. Technology has taught us that we can expect almost anything to happen instantly. Ordering lunch, getting a cab, texting a friend, selling stock, applying for a job... these can all be done in a few clicks, and even better, many of these experiences are personalized because providers can tap into historical data and serve up offers that they know we'll want. User expectation is that this level of service should be available in all interactions, and if you can't provide it, someone else will. Open banking is the key that unlocks that experience for your members.

The greatest differentiator for a credit union versus a bank is the connection, the personal touch, the fabled "credit union difference." A credit union is a local business, invested in the community and its people. In return, its members are invested in the credit union, too. They feel recognized when they come in, like Norm walking into Cheers. But, as people are trying to limit in-person contact, branch visits are down dramatically. And those members that do come in expect to receive service that aligns with their expectations of high-touch personalization. So, how can a credit union create that personal connection with or without actually being in person? By leveraging the right technology.

The needs and expectations of credit union memberships have evolved faster in the last 10 to 20 years than ever before. As a result, the evolution of core processing system capabilities and architecture has had to accelerate as well. In order to stay competitive and keep members happy, credit unions should utilize a core that can not only keep up, but stay ahead. Here are two approaches to help ensure your core technology has the agility and adaptability it will need to support your credit union growth.

Great technology alone will not make a successful credit union. Storing every piece of transactional data won't either. Nor will having the most courteous member services representatives in the entire country. The truly successful credit unions are those that arm their staff with useful data and teach them how to leverage it, ultimately enabling them to not just serve their members, but add value for them. It's a formula for success.

Credit unions are accustomed to a world where multiple vendor relationships are needed to achieve their business goals. Building the right offering of services for member's specific needs is necessary. But, an all-in-one solution hasn't always been in the cards - either the technology wasn't there or it was cost-prohibitive. Today, credit unions have options to bring core processing, loan origination, online banking, collections, and more all under a single vendor to enhance the member experience without sacrificing quality.

Consider the evolution of how money is stored: First, it was put in a box in our home, then moved to a bank teller behind some bars, followed by storing it in huge vaults with giant doors and locking mechanisms, then into an ATM for easier access, and now it's just 0s and 1s transmitting through the internet. As times have changed, we've adapted to how we store and access our hard-earned dollars. People once demanded to know that their money was locked up safe but, as technology advanced with the internet and smartphones, we now want the ability to access and transfer it from wherever we are, whenever we want, however we want to. To keep up with the needs and expectations of credit unions and their members, core systems have had to evolve and adapt as well.

Remote access is no longer a nice-to-have, it's a must-have. Credit union members from all generations are increasingly smartphone reliant and the products and services available to them need to integrate into that world. Where remote deposit capture was once the sparkling gem of new tech, it's old hat now. Credit unions looking to provide their members even the most basic services need to offer remote and highly personalized banking services in order to stay competitive. Utilizing a modern, state-of-the-art core processor is the first step.

When credit unions build their annual strategy for the coming year, it's often focused on looking at last year's plan and tweaking it for the future, what systems or services can they get more legs from, what will they need to consider upgrading for the future? This year is different. This year has upended everything in one fell swoop: branches shut down, employees worked remotely, members lost jobs and income, the market demanded immediate options for contactless payments and transactions. While many felt this year has been a setback, we see this year as a great opportunity to redefine the future.

Around the world, people are choosing to keep their distance from each other. They're foregoing family visits and hangouts with friends. They're cancelling parties, skipping inessential shopping, and delaying trips. In any other situation, it could be seen as selfish and probably rude. But in this time of crisis, it's really an act of great care. While there is no actual law forcing them to stay home, they're doing it because they are helping protect those that are more likely to suffer from this disease. It's an act of love. It's a way to show each other that we care, that we have each others back.

Businesses are showing support too. Stylists are sharing videos to help clients cut their own hair. Gyms are streaming popular classes so members can keep up with their fitness routines. Restaurants are sharing their secret recipes so patrons can cook their favorite dishes from the safety of their homes. Businesses are finding ways to help their customers because it's the right thing to do--to support each other. So what can your credit union do to show your members you are there for them, even when you can't actually be there for them? We have a few ideas.