3 Keys to Unlocking Greater Operational Efficiency at Your Credit Union

By Preston Packer |

Nov

10

When it comes to operational efficiency, credit unions have room for growth. According to a McKinsey & Company study, credit unions are repeatedly more inefficient when compared to similarly sized banks. The causes of this operational efficiency variance can range, but it almost always boils down to certain processes draining valuable resources. Ask yourself:

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Step Up Your Tech! Improve Efficiency for Both Credit Unions and Members

By Preston Packer |

Nov

08

The expectations of credit union members are constantly evolving, and it's up to savvy organizations to evolve right along with them. For most, the careful application of the right type of technology is how they do it.

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Self-Service Tools for Credit Unions: Benefiting Members and Employees

By Preston Packer |

Nov

02

These days, members are flocking to credit unions for a myriad of different reasons. Some want the convenience that credit unions are known for - they want to be able to utilize services where they want, when they want, no matter what. Others strive for the personal level of care and attention to detail that larger financial institutions just aren't capable of offering. Others still strive for both at the same time.

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Optimizing Revenue Streams for Credit Unions

By Preston Packer |

Sep

07

In a period of significant global economic instability, the financial services sector is going through a significant period of disruption. This has been especially challenging for credit unions, who need to leverage a variety of methods to keep cash flow as stable as possible. Thankfully, there are ways to use this newfound disruption to optimize revenue streams moving forward. They require organizational leaders to keep a few key things in mind.

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Using Open Banking to Enhance Your Credit Union Member Experience

By Preston Packer |

Feb

17

Open banking will support credit unions that possess a certain digital capacity. The most successful credit unions (CUs) are ones that utilize member data and provide real-time information, organized workflows, notifications, and alerts. Members seek convenience above all, and so these features should offer just that. Here are a few ways CU staff can increase the value of your services with open banking APIs.

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The Impact of New Technology for Credit Unions

By Preston Packer |

Jan

26

In today's digital age, virtually all credit unions face one glaring concern: how to maintain the valuable face-to-face relationship-based banking that members have come to expect while offering the cutting-edge digital tools younger members demand. In addition to finding the right mix, the capital investment required to make this transition has often helped justify kicking the proverbial can down the road. That was until COVID-19 escalated digital transformation from a nice-to-have into a must-have. Fortunately, Eastern Utah Community Credit Union (EUCCU) already had the plans and groundwork in place to seamlessly make the transition. 

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The Benefits of Digital Lending Platforms for Credit Unions

By Preston Packer |

May

05

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.

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Understanding Digital Transformation Trends in 2021

By Preston Packer |

Mar

30

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.

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Build Your Credit Union Digital Banking Game Plan

By Preston Packer |

Mar

16

Let’s face it, the world has changed drastically since the beginning of the pandemic. We’re now living in a digital age where people want digital solutions to problems that used to be handled in person. This has had a huge effect on how all sorts of businesses operate, including credit unions. The days of credit unions conducting most of their business in the branch are over, and unlikely to return.

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How Core System Technology Can Help Credit Unions Defragment the Digital Ecosystem

By Preston Packer |

Mar

02

The events of 2020 and the ensuing pandemic shifted the world economy in unprecedented ways. Enforced global lockdowns suddenly changed consumer habits, causing all sorts of businesses to adapt and reevaluate how they can best serve customer and member needs. For many, this meant relying on digital solutions to perform financial transactions that were traditionally conducted in person—amplifying the importance of a sound digital ecosystem.

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