When a financial institution states they offer digital account opening, oftentimes that's not the reality. True digital account opening means that the entire process can be completed online, without a visit to the branch. Most credit unions are somewhere in between true digital and traditional in-branch applications, where the process can be started online but must be finished in-branch. With digital ruling as the preferred method of communication for many, providing a complete digital experience for account applications is important for credit unions both big and small. Here are four ways credit unions can get on board with digital account opening.

Big banks are known for their deep pockets, and credit unions for their quality member service. It’s difficult for large banks to provide the same level of care and attention as credit unions but what they lack in customer service is oftentimes made up through robust online banking and digital solutions. Conversely, credit unions are able to provide a phenomenal in-person member experience yet digital technology may prove to be less than helpful to members. It is the impression of some, that credit unions don’t need digital services because they can manage their business offline. Although it’s true that some credit unions get by with little to no digital banking components, small institutions can benefit most from implementing a digital approach. Here’s what your credit union is missing out on by overlooking digital banking solutions.