Credit unions have reported a string of significant milestones across 2021. Over the past few months, we’ve been able to speak with hundreds of credit leaders and wanted to share some of the key themes we’ve been hearing.
Digital Transformation
Digital transformation has been top of mind for a long time now. We think it really means to focus on modernizing processes to make them easier, and more efficient, for employees and members.
Reducing member friction is critical, especially as consumer demands for convenience continues to increase. We’re competing with technology that makes it easier to get the job done in just a few simple clicks. When we’re comparing ourselves to other credit unions and banks it’s important to remind ourselves that in our members’ eyes, we’re just another errand.
Learn From Leading Credit Unions
- How To Convert Members To Digital During A Pandemic
- What’s In A Name: Digital Services Architect
- High-Tech Meets High-Touch: How Avatars Help 5 Credit Unions Advance Member Services
- What Does Digital First Mean For Clearview FCU?
Financial Inclusion
Financial inclusion is a phrase we’ve been hearing more and more. It makes us ask ourselves, how do credit unions make people feel safe and more trusting of their financial cooperative?
We believe transparency is critical. It’s about the words you use, how you market yourselves, how you train your staff not to judge so members feel safe enough to contact your institution. If someone needs a helping hand, credit unions are there with options and resources, yet many people don’t call or take advantage of it. Positioning yourself to be a trusted resource is critical for cooperative success.
Keep Connected With Other Credit Unions
To continue the conversation and share ways to combat financial barriers, join Callahan’s Impact Network. This group consists of more than 400 credit union leaders who believe cooperative impact is important. There’s no cost or commitment to join. Join the network.
Renewed Focus On Mission And Purpose
Credit unions hold a key advantage to distinguishing themselves in the marketplace. That advantage is the commitment to the credit union difference. . Callahan has several resources that can help you redefine your mission and engage members and employees through a new sense of purpose.
Lead With Purpose
Registration is now open for our January cohort of Sustainable Business Strategy with Rebecca Henderson, a collaboration with Harvard Business School Online that guides you through new contexts and mindsets for being truly purpose-driven and values-based. Join our alumni network of 150+ credit union leaders that are working to drive purpose at their credit unions. Learn more here.
More Blogs
Leverage Your Peers For Vendor Due Diligence
When it comes to picking the right digital banking vendors for your institution Callahan & Associates knows how important it is to conduct a robust analysis before signing on the dotted line. Often, vendors will offer a curated list of client referrals you can...
Let The Policy Exchange Expedite Your Hiring Process
There have been few moments in American history in which the economy has experienced as much whiplash as the COVID-19 pandemic. After an economic shutdown brought an extended period of turmoil and job loss, we experienced a rapid V-shaped recovery which has brought...
4 Easy Ways to Analyze 4Q Data on Peer+
With fourth-quarter data released by the NCUA, it’s the perfect opportunity to reflect and compare your institution to your peers using Peer+. With an intuitive and reimagined interface, strategic year-end reporting for your credit union has never been easier. Give...
Credit Unions See Record High Member Engagement and Relationships In 4Q21
More consumers than ever turned to credit unions in 2021. Total industry assets surpassed $2 trillion last year, as over 5.4 million Americans became new credit union members bringing total membership to 131.1 million. Additionally, the industry is seeing accelerated...
This Month In Impact – January 2022
One of Callahan & Associates 2022 goals is to increase our Impact Network members and how we impact our community of credit union leaders. We’re devoting much of our content this year to talk about impact, including how credit unions are looking at impact,...
Top 5 Webinars Of 2021 On CreditUnions.com
Through all the ups and downs, twists and turns that 2021 put the credit union industry through, Callahan has continued empowering credit unions to impact their communities in meaningful ways. That includes our webinars, which offer key insights into a variety of...
Top 5 Articles Of 2021 On CreditUnions.com
It has been a lively year for the credit union industry. A year that started in the throes of COVID-19 has now given way to nationwide economic reopening tempered by labor shortages, inflation, and now, concerns about yet a new variant. Through it all,...
Alternative Data Sets And How They Can Help Your Credit Union
For credit unions, there’s no such thing as “too much data”. If there’s data that exists for credit unions to get a better gauge on their role in the local community or in the industry at large, it’s in the cooperative’s best interest to uncover it. While typical...
A Successful Launch Starts With A Successful Team
People often ask me why I’m such a passionate credit union advocate. OK, to be honest, the question is usually more along the lines of “why are you obsessed with credit unions”, and the “people” in question are my friends, family, neighbors, kids’ friends’ parents,...
Webinar Recap: How Callahan Quantifies Credit Union Impact
We recently hosted “Measure Your Mission: How To Quantify Credit Union Impact” as part of the quarterly Tableau User Group (TUG) engagement webinar. In it, we outlined the goals of Callahan’s impact initiative, how impact metrics are quantified, and what credit unions...