OTTAWA, Canada—For many credit unions, the discussion often turns to how to keep up with mobile. But Brian Branch believes it is mobile that is catching up with credit unions—the challenge is to leverage how the two complement each other.
Branch, CEO of the World Council of Credit Unions, noted that mobile and online technologies create communities and allow people to easily come together to share information and mutually benefit. That, he reminded WOCCU’s World CU Conference last week, is exactly why credit unions were formed.
“We share a simple set of values: mutual help and self help,” said Branch. “No matter what we call ourselves, we share a global community of putting members first and doing what’s right for credit unions.”
While demand for those values is as strong as ever, Branch noted there is an evolution in meeting that demand.
“Around the world there are credit unions systems that are growing rapidly, and when we look to see who are the growth leaders in those CU systems, consistently we find it’s the credit unions that offer those multiple channels of service delivery,” said Branch.
Branch cited statistics from the International Telecommunications Union that by the end of 2015 60% of people around the world will have access to the Internet. “How does that affect our business model?” asked Branch. “Obviously, it makes it easier for consumers to access their credit unions. That’s why so important to respond to that demand. Second, consumers have more availability of information and options. That’s why we need to look to leveraging electronic wallets. With this access to the Internet, we are enabling people to engage with each other. It has become much easier to exchange information and help one another. People draw strength from each other. People want to help each other. That’s what brings us under this roof this week. That’s how we build a global community.”
