Branch banking

As part of the continuing rebuilding effort in Puerto Rico after Hurricane Maria, Banco Popular's nonprofit foundation has several startups working out of its main location in San Juan. For Camille Burckhart, it is part of a mission to help the island get back to normal.

Banks from the North and South are converging on the city, spurred by a spike in deposits and employment numbers that trump national averages.

The institution had considered a merger of equals that was never finalized before deciding to change its name to Elevate Credit Union.

The credit union is also developing a new shared branching space as part of a unique co-location strategy.

Credit unions have measures in place to assist members hit by fraud but many smaller institutions are challenged when it comes to an effective response.

Leaders in bank innovation have ideas for improving financial services with high-speed, highly responsive 5G networks — ideas they say could be implemented relatively quickly.

The Minneapolis bank will open about 10 branches in North Carolina's largest city by the end of next year, adding to already intensifying competition among big banks.

A surcharge-free ATM network among credit unions based in Central Texas has helped raise the profile of small CUs there – and some say it’s a strategy institutions in other cities could easily adopt.

CEO Andy Cecere acknowledges that other banks have tried to broaden customer relationships and selectively expand into new markets before and struggled. But the sophistication of today’s online and mobile services could make all the difference this time, he says.

With branch traffic on the decline, some CUs have taken steps to tweak their facilities in order to help brick and mortar stay relevant in a digital world.