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
3 Ways To Use 2Q21 Data
The NCUA has officially released second quarter credit union data. Callahan provides your credit union a multitude of ways to analyze this updated data to benefit your cooperative. Here are three: 1. Build custom tables in Peer-to-Peer In Peer-to-Peer, credit unions...
Recapping The Impact Network Meet-Up
On August 17, dozens of credit unions joined Callahan & Associates for the first ever Impact Network Meet-Up. This event, which was open to Impact Network participants only, was created to help participating credit unions form connections, start impact-related...
2Q21 Credit Union Trends and Takeaways
More than 1,200 industry peers joined us on Aug. 11 for 2Q 2021 Trendwatch. Callahan highlighted trends in lending, membership, and more as behavior amongst credit union members changed in accordance with the steady economic reopening. Most notably, credit union...
We’re Re-Building Peer-To-Peer From The Ground Up, Here’s What You Can Expect
Intuitive design. Faster analysis. Enhanced reporting. All packaged into a sleek, modern interface. Those are just a few of the changes you can expect with the launch of Callahan’s Peer+ software, coming January 2022. We’re excited to share that the classic...
This Month In Impact
This year, Callahan began our impact initiative, in which we seek to build a network of credit unions with the goal of empowering member-owned financial cooperatives to better articulate their value through a mission-focused lens with the help of new metrics and best...
1Q21 Strategy & Performance Now Available For Download
One of the premier publications produced by Callahan & Associates is Strategy & Performance, a quarterly magazine that highlights the newest trends and data from around the credit union industry. As the industry emerges from the other side of a strenuous and...
4 Impact Articles To Read
Callahan’s Impact Center is a compilation of webinars, publications, tactical documents, and more, all centered around creating a positive community impact. The Impact Center also features case studies and blog posts from creditunions.com that highlight how...
1Q21 Credit Union Takeaways and Trends
Amidst an industry landscape that is undergoing massive changes as a direct result of the COVID-19 pandemic, credit unions found a multitude of ways to adapt to the evolving needs of their members. Using data obtained from credit unions during the first quarter of...
Introducing The Credit Union Impact Center
The Impact Center is a compilation of webinars, publications, tactical documents , and more, all centered around creating a positive community impact.
Peer Group Criteria That Go Beyond Asset Size
Three peer group examples for a more accurate credit union benchmarks.