Branch management

With coronavirus cases on the rise, Hoosier Hills CU in Bedford, Ind., has chosen to temporarily restrict access to its facilities. Observers say other institutions are likely to follow suit eventually, whether they want to or not.

Whether it was their nimble shift to digital, or willingness to interact in new ways with customers in branches, bank employees have met head-on the business challenges posed by the outbreak.

A nationwide branch network remains a calling card for the entire industry, while also exemplifying the movement's cooperative spirit.

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking.

The Liberty Lake, Wash.-based credit union has agreed to buy four branches from the Roseburg, Ore.-based bank.

Members are completing more of their banking online than ever before, forcing many institutions to rethink their strategies for physical locations.

Dennis Devine will have to navigate a number of issues, including economic strife and a pandemic, as he takes the helm at the $13 billion-asset institution.

A handful of credit unions have embarked on co-location strategies, sharing branch space with coffee shops and other businesses, but the social distancing era may force some institutions to rethink those plans.

A new report from Access Softek showed at least one in five members are likely to reduce their branch visits once the pandemic ends, though the risk of consumers leaving their credit union entirely may have declined.

Like many other institutions, the South Florida-based credit union had reopened its locations after restricting member access from March to May while much of the nation was in lockdown.

With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.

Some institutions are grappling with new liability issues as they attempt to keep members and staff safe while also reopening their facilities after statewide lockdowns.

Credit unions are once again opposing language in draft legislation of the 2021 National Defense Authorization Act that would allow banks to rent space on military bases for free.

Digital banking has ramped up during the coronavirus lockdown but customers will seek somewhere to go as cities reopen. A branch could provide that safe haven.

Financial institutions are trying to determine how to best protect branches as some demonstrations following George Floyd's death turn violent.

Some credit unions have closed branches as demonstrations continue following the death of George Floyd last week.

Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.

The Summerville, S.C.-based institution will also close two branches as part of a broader strategic effort to better service members.

COVID-19 diagnoses in McKinley County, which includes Gallup, account for nearly a quarter of the state's cases. That has forced officials to take drastic action.

Credit unions moved quickly to reduce branch access as the coronavirus crisis worsened. The harder decision will be when and how to begin lifting those restrictions.