Credit unions leverage core values to reinvent themselves, create staying power
Self-service kiosks. Driver’s license renewals. Branches that look like Apple stores. Names that reflect benefits and values, not geography or workplaces.
Welcome to 21st-century credit unions — rooted in core values, while braving new beginnings that strengthen their staying power.
“Generations change. Some pass on, others come forward,” says Nutmeg State Financial Credit Union President and CEO John Holt. “You have to be able to be relevant to the changes in the generations, because if you don’t, it’s likely that you don’t exist. You can bury your head in the sand, if you so choose. But we won’t. We’re going to remain relevant. We’re going to do what’s necessary to help us and this industry.”
Credit unions tailor their new beginnings to their needs and members. They are employing technology and old-fashioned listening. They are hiring for enthusiasm, streamlining vendors and beefing up in-house capabilities. They are building on the past and peering into the future — all in the quest to project traditional credit union values onto the canvas of contemporary banking.
From the March-April 2019 edition of The NAFCU Journal magazine.
Want to receive The NAFCU Journal in your inbox? Update your email preferences.