Innovation: Developing New Ways To Connect With Members
Published May 11, 2015 2:41 PM
|
Updated June 1, 2021 1:21 PM
1 Min Read
The theme of CO-OP Financial Service's THINK15 Conference here is innovation as it is every year for this gathering so Credit Union Journal asked attendees in which areas they think credit unions need to focus their innovation efforts.
(Image: Fotolia)
Charles Bruen, president and CEO, First Entertainment CU, Hollywood, Calif.
My main takeaway from this conference has been the connectivity of social media with the emotional connection credit unions have with their members. Credit unions need to connect people together. Technology is an important thing, but the people part is the most important. The emotional connection that brings people together is more important than the latest payments app.
Carla Hedrick, president and CEO, Denver Community CU, Denver
The most important innovation we can do is connecting with members and building the relationship. That doesn't sound like an innovation, but we need to innovate in how we connect. Every member is different. Every member has their own burning issues inside them. And every member wants to be contacted in a different way one wants to be called on the phone, others want to do everything by e-mail.
Bill Cheney, president and CEO, SchoolsFirst FCU, Santa Ana, Calif.
Credit unions should be focused on the members and how they can best improve the members' financial well-being. This should include member service and service delivery. Another area is simplifying to make things easier and faster. SchoolsFirst is working hard on mobile, but we need to innovate on phone and face-to-face, too. The member experience on mobile needs to be as easy as face-to-face.
Brandi Stankovic, credit union consultant, Las Vegas
The focus needs to be on member engagement and dialog. Credit unions should be building the relationship with members through technology, as opposed to trying to deliver products by technology. This conference talks about connectedness, and I hope credit unions can get that. What makes credit unions special is their core relationships.
Robbie Robertson, director of retail operations, Oregon Community CU, Eugene, Ore.
Innovation is a big word. It needs to be built into the credit union's culture. The credit union industry needs to break down stigmas and think outside the box more. Credit unions have been innovative in some ways, but we need to do more. The new competitors that are coming into the market are only looking at the opportunities, and we need to do more of that.Innovation needs to be aligned with strategy. It has to go from inside out, starting with the employees. It is important to anticipate the needs of consumers all consumers, not just current members.
