Critical questions for setting your delivery direction

Credit unions are certainly evolving in their approach to meeting the needs of members. CUs’ current network of delivery channels includes home banking, branches, ATMs, mobile, call center, mail and social media. How’s a CU to decide what path to follow through all of this?

During a recent CUES Webinar, “The Present and Future of Delivery Channels: What Credit Unions Need to Know,” Bill Goedken, CPA, CMA, CGMA, talked about how to make good choices about your CU’s delivery channel strategy. (Get the webinar playback.)

Great consideration is given to the comparative costs of each channel, said Goedken, CEO of Idea 5. He cited a 2013 Javelin Strategy and Research that assigned the following cost to each contact with a member over the various delivery channels:

In person at physical branch: $4.25

Call center: $1.30

ATM: $1.25

PC/website: $0.19

Mobile: $0.10

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