5 questions to set your credit union’s new year on the right track

As we step into 2025, the idea of "new year, new you" inspires us to reflect on how we want to approach the months ahead differently. Whether it’s personal growth or professional goals, success starts with having the right tools to make your vision a reality.

For your credit union, the same principle applies. If your focus this year is on growing deposits, expanding lending opportunities, enhancing the member experience, or streamlining operations, achieving these goals requires more than good intentions—it demands intentionality, bold strategies, and a sharp focus on what matters most: your members.

Today, credit unions stand at a crossroads of challenge and opportunity. A December 2024 NCUA report reveals that loans grew by $41 billion, but delinquency rates also rose by 0.19%. Deposits surged by $44 billion, with share certificates up 24%, yet net income fell 4.7% and loan loss provisions are rising.

Despite these pressures, our industry shows no signs of slowing down. In fact, it’s accelerating rapidly, and those who hesitate risk being left behind. This is your chance to reshape your strategy, rethink your operations, and recommit to your mission.

So, where do you start? It starts here—with five transformative questions that can inspire change and position your credit union for long-term success.

As someone who frequently engages with credit unions and experiences banking as a consumer, I can tell you this: your members expect more than just basic service. They want seamless, personalized, and proactive experiences—across every touchpoint—where their needs are anticipated before they even realize them. Whether they're online, in-branch, or on mobile, if their experience isn’t consistent and effortless, you’re falling behind.

Your members are the heart of your credit union, and they deserve more than just a transaction. They deserve an experience that makes them feel understood and valued, no matter how or where they engage with you. By offering intuitive, hassle-free solutions that anticipate their financial needs across every channel, you don't just meet their expectations—you exceed them, building trust and deepening loyalty.

This is how you transform your credit union from just a service provider into a true financial partner. Now, you might be thinking, "That sounds great," or "We've heard it all before." But how does your credit union plan to deliver on this? The next four questions are designed to help you answer exactly that.

While the credit union difference is grounded in meaningful human connections, that doesn’t mean every task needs to be handled by a human. If you’re still relying on manual processes, you’re burning valuable time and resources that could be better spent on building deeper relationships with your members.

Consider this: What could your team achieve if technology took care of routine tasks? Automation doesn’t just remove the need for people—it cuts through inefficiencies and minimizes errors, freeing up your staff to focus on what matters most: serving members and cultivating lasting connections.

There is a world within your reach, where loan officers and frontline staff are liberated from time-consuming administrative tasks, allowing them to spend more time advising, listening, and building trust with your members. Meanwhile, your members are delighted, referring you as the go-to credit union to all their friends and family. This is the reality automation can create—empowering your team to do what they do best, while technology handles the rest.

This question isn’t just about delivering instant approvals; it’s about making fast, smart, and informed decisions. Speed is non-negotiable, but making decisions swiftly shouldn't come at the cost of fairness or effective risk management. Automated decisioning doesn’t just accelerate approvals; it also offers a safety net, flagging applications that may require deeper investigation before a final decision is made. This ensures that the offer you provide is not only fast but also fair and tailored to each member’s financial situation.

The right decisioning technology can make all the difference. When your loan origination system integrates these advanced features directly into its workflow, it empowers you to make well-informed decisions with both care and confidence. For example, by leveraging advanced decisioning tools, you can quickly approve straightforward cases while simultaneously identifying those that require further review—whether it’s requesting additional documents or conducting a deeper credit risk assessment. This balance allows you to provide a fast, personalized experience without exposing your credit union to unnecessary risks and strengthening the trust your members place in you.

When I talk to credit unions, I often hear about how they’re gathering more data than ever before, but the real question is how that data is being used.

The first step is ensuring easy access to your data—making sure it’s not trapped in fragmented systems or hidden behind hard-to-generate reports. This is where data-centricity comes in. It’s not just a buzzword; it’s a necessity. Without a centralized data system, you can’t tap into your data’s full potential.

All that data you’re gathering, it’s a goldmine of untapped insights. When you harness it properly, you can start predicting member needs—sometimes even before they realize what they need themselves. Imagine being able to anticipate and address those needs proactively, offering personalized solutions that strengthen relationships and uncover growth opportunities you may not have realized existed. That’s the power of data done right.

Once you've unlocked the insights your data provides, it’s time to take action. Fostering meaningful relationships with your members doesn’t happen by accident. It requires intentional care to show that you’re not just after their deposits but invested in their financial wellness.

For example, if you notice a member’s savings account growing steadily, you can reach out with personalized advice on how to make their money work even harder. If they’ve recently taken out an auto loan, you can offer them a refinancing opportunity when interest rates drop. You should also think about the major milestones in their lives: planning for retirement, buying a home, or even saving for their child’s education.

It's these small, thoughtful touches—showing that you’re paying attention to their unique financial journey—that show your members you're in their corner, every step of the way.

Every new year comes with a clean slate, but this one feels different. The stakes are higher, the competition is fiercer, and the opportunities are greater than ever. Your credit union has the chance to lead, innovate, and grow in ways that redefine what it means to serve. Start by answering these five questions with bold honesty and intentionality. The future is yours to shape—one inspired action at a time.

The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the credit union content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.