August 24, 2014

Berger: 'Technology is the great equalizer'

July 28, 2014 – NAFCU President and CEO Dan Berger highlighted the value of technology and how it can help credit unions compete in the modern financial services marketplace on the final day of the association's 47th Annual Conference and Solutions Expo Friday.

Berger acknowledged that throughout the industry's history, credit unions have focused on the needs and concerns of their members rather than profits or being the biggest, "like the bankers and the greedy Wall Streeters." However, he noted that in this era of "too big to fail," technology is a different kind of development and a different kind of opportunity. "Technology is the great equalizer," he said.

Berger also noted the rampant growth of mobile banking technology and how technology "is a competition where we really need to step up as an industry."

Berger said, "If your members – and the next generation of members – are going to keep coming to you, you need to offer them the same technological advantages and conveniences they can get everywhere else."

"Remember, technology will help us compete and will help us with our mission," Berger said. "You put your members first. You have earned their trust, and you give them value that no other institution can top. Combine this with the best that technology has to offer, and you will be unbeatable."