Technology Shift at CUs: From Transactions to Relationships

LAS VEGAS – The next generation of technology can help credit unions reach the much-sought-after next generation. That was the message from the two opening keynote speakers at the CUNA Technology Council’s Summit here Thursday. Randy Harrington, CEO of Eugene, Ore.-based Extreme Arts & Sciences, said CUs should increase interactivity on their Web sites. “Young people like generating their own content. Interactivity is winning; just receiving content is losing. Credit unions should interact with social networks, rather than households.” Robb Gaynor, VP and general manager of consumer solutions for Calabasas, Calif.-based Digital Insight, said credit union Web sites must move from using online banking as a “necessity,” or defensive strategy, to making it a strategic “hub.” He suggested CUs follow the model of online retailers by tracking preferences and serving up content members most likely want to see. “The benefit for credit unions is a fundamental change of the relationship between them and their members.”