Relationship Banking in a Digital World

Jun 28 2021 • 21 mins

Digital banking and belonging aren’t mutually exclusive propositions, at least not for credit unions. Diego and his guests discuss the innovative interactive technologies that credit unions use to enhance member experience and strengthen relationships - with Tanya Valdez, Santa Fe registered nurse & DNCU member; Kristin Harrison, director of business development, WebStrategies, Inc.; James Robert Lay, founder & CEO, Digital Growth Institute; and Chris Murrin, sales experience support manager, GTE Financial.

If you ask someone why they haven’t switched over to a credit union yet, the most likely answer is, “Because the big banks offer more bells and whistles.”

Those big bank bells and whistles come at a high cost. “Are they convenient? Sure. But in a company like that, you're not even a number. You're not even a dot,” says Kristin, explaining that to the behemoth financial technology companies of the world, your hard-earned money barely registers.

On the other hand, credit unions offer the same great digital features as a big bank with the added benefit of knowing that members - not numbers - are all working towards a common goal: fiscal security.

Another reason people don’t switch to a credit union? They simply don’t like change. That’s also true for members who are wary of adopting new technology. “Money is one of the most emotional and stressful subjects that we all deal with,” says James Robert. “We must keep people at the center of all of our thinking, all of our doing.” Here, too, credit unions lead the big banks by creating solutions that meet our members where they are.

Swipe payments and transfers, online mortgage applications, and interactive teller machines are just some of the ways we center our members while providing the personalized service they’ve come to expect.

“I truly think we'll always have a branch presence. It may not look like it does today, obviously,” Chris says, adding that credit union branches don't look like they did 20 years ago, either. “I think we're always changing with the times.”

Read more and tell us what it means to YOU to belong: http://www.financialteainthemorning.com

Financial Tea Hot Sip: Taking care of each other also means taking care of ourselves, and our planet. Did you know that e-statements reduce your carbon footprint while keeping your identity safe? Paperless privacy is a win-win! Ask your credit union how you can get started today.