I want to acknowledge credit unions on their success in stepping up online and mobile efforts. As reported recently in Credit Union Journal, a consumer study by the Chadwick Martin Bailey research firm shows credit unions are improving their reputation in the area of technology, better competing with banks in offering electronic products and services ("Study Refutes Image of CUs," Sept. 17, 2012).
As credit unions offer online and mobile banking, their members are citing the quality, reliability and solid performance of these services. DigitalMailer has long encouraged credit unions to embrace technologies that reduce costs and increase member convenience. This study reflects the positive impact of doing so.
Time For The Rest To Get Onboard
According to Jim Garrity, managing director at Chadwick Martin Bailey, the most competitive institutions are those that offer secure and reliable online products along with high-end service. Credit unions have the service part covered; using new technologies can provide them with competitive opportunities. To level the playing field with banks, credit unions need a coordinated eStrategy. Mobile and online services are key pieces, but also important is incorporating digital branch operations, website content/processes, e-mail outreach, and social media. The tools and help are available to get them there.
It's great to see more credit unions getting on board; it's time for the rest to join them.