Customer-centricity

Credit unions can build trust within their communities by providing clear and consistent communication as the pandemic causes economic anxiety.

Few lenders are finding creative ways to provide much-needed financial advice and emergency services online.

Credit union leaders can't truly understand how consumers interact with their institution until they've walked through those processes themselves and dealt with the same pain points members face.

One organization's findings reveal that financial counseling, when done right, can also help boost institutions' lending and brand recognition.

Credit unions have achieved success in areas like auto and consumer loans but there is still room for them to increase their home lending.

Some credit unions are experimenting with ambient scenting – adding distinctive but unobtrusive smells – in their branches. While those fragrances are meant to reinforce the institution’s brand, they could also have unintended negative effects.

With brick-and-mortar locations dwindling, it’s even more important to meet potential customers in the field.

The credit union service organization said the move was part of its focus on marketing technology products.

Banks are increasingly turning to outsiders like Nikki Katz, a former Disney executive now at Bank of America, and Joel Kashuba, formerly of Procter & Gamble and now at Fifth Third, to help build their digital experiences.