In 2020, credit unions and all sorts of businesses were forced to adapt and change the way they provided member services. Obviously, one of the biggest changes was finding a way to provide services and transactions that were once conducted in-person and make them digital. As member expectations and needs changed, CUs and other businesses were forced to enhance their digital platforms at an alarmingly fast rate.

Credit unions have a history of putting their members first. In fact, nothing is more important for a credit union than being able to provide personalized member services to members in their community. Perhaps this is why many credit unions have found the transition to digital banking and digital member services (DMS) that has taken place over the past few years to be difficult, and some are even resisting the changes.

Credit unions pride themselves on the quality of member service and the personalized attention they give their members. However, as the world moves toward digitalization and a large part of member service is now conducted online, credit unions must do everything they can to create high-quality digital member services (DMS).

With the rise of digital banking, it’s become increasingly important for credit unions to enhance their Digital Member Services (DMS). Moving in the direction of efficient and seamless digital solutions when it comes to member services is crucial for the survival of credit unions in the digital age. But it is also important that CUs do this while still providing the personalized member service experience that members expect.

Credit unions have always prided themselves on being able to provide personal, top-quality service to their members. As the world turns more and more towards digital solutions that affect how credit unions and other financial institutions do business, being able to continue to provide the best level of member service should be a top priority for all credit unions.

Mobile banking has many benefits for credit unions and their members. A mobile banking app can provide members with 24-7 access to account information, instant bill pay features, and the ability to make purchases, transfer money to friends, and deposit checks with just the click of a button. These revolutionary changes have made banking quicker and easier than it’s ever been. As mobile banking continues to transform the financial industry, credit unions must pay close attention to what’s happening.

Today’s consumers have turned to digital solutions to handle all sorts of daily transactions. Unsurprisingly, e-commerce and the use of digital wallets have soared, and so have fintech companies that offer digital banking and digital lending services. Credit unions must keep pace and adapt to the changes in order to thrive.

One of the big takeaways from 2020 for credit unions was that digital banking services are not only going to be important for the future, but they’re also essential right now. To satisfy members’ expectations and compete with the rise of fintech companies, CUs must choose the best technologies and continue to enhance their digital banking capabilities.One of the most important elements of credit unions’ digital banking future will be offering competitive digital lending services.

In 2020, the pandemic forced many of us to change how we do business and to do it fast. As state-issued lockdowns caused brick-and-mortar businesses to close their doors and people turned to digital solutions, such as e-commerce and digital wallets for everyday transactions, many credit unions around the country were forced to enhance their digital services and make big changes to how they operate.

When the pandemic hit in March of 2020 and caused a nationwide shutdown, many credit unions had to scramble to update their digital banking services as quickly as possible. Their hard work and adaptability were honorable, and most CUs were able to provide adequate digital services in a timely manner and maintain their member base. However, digital technology is never at a standstill and the transformation for CUs is far from complete.