U.S. credit unions are changing the design and function of credit union branches to meet the evolving needs of members, said a panel discussion at a CUNA Mutual Group Discovery Breakout Session, “Branches of the ‘Future’ are Here Today,” Tuesday at the 2013 America’s Credit Union Conference.
The ACUC, presented by the Credit Union National Association in New York City, runs through today.
Raja Bose, senior director, consumer transaction services at Diebold and the moderator for the panel, said there are five factors driving change in the credit union marketplace.
- Exponential change in technology, with consumers rapidly adopting new technology and expecting more from credit unions;
- The rise of consumer power, with empowered consumers driven by social media;
- Transformational technology;
- Changing demographics; and