CORVALLIS, Ore.-As technology makes financial interaction far less personal in 2109, the importance of providing financial advice and assistance will become exponentially greater, predicts Bryan Sims.
"You will get many more slick financial tools and there will be a lot more depersonalization of business," said the CEO of Brass Media. "So the simple every day member service item becomes more important, and as technology advances, there will be many more opportunities for CUs. We'll see more financials working with overseas call centers. All of these types of things take away from the personal touch."
Fewer credit union branches will be needed. "With the advances we're sure to see there won't be a great need for people tracking their money and conducting a high number of transactions," Sims added. "Branches that exist will be staffed by highly educated financial consultants. The credit union will be more about financial advice and financial planning."
Sims also predicted there will also be a shift in leadership of each credit union to reflect the membership base, both in boards and management.
