The COVID-19 pandemic is possibly the most serious challenge credit unions have faced in nearly a century. While credit unions were deemed critical infrastructure and able to remain open for the most part throughout the coronavirus pandemic, most locations had to shift their workforces to remote work, reduce hours, close lobbies and rapidly transition to digital solutions to safely keep services available. With isolation parameters being scaled back or lifted in some states, many credit unions are seeking to expand hours and services to help maintain a stable economy and fully meet their members’ financial needs—all while practicing social distancing requirements and maintaining compliance with regulatory mandates. As credit unions carefully consider how to reopen their branches, here are five tips to follow as we gradually and cautiously shift toward normalcy following this significant public health event.
1. Prioritize the Health of Employees and Members
The return to a pre-coronavirus world will take time. While it is tempting to jump right back into the old way of doing business, medical and business experts indicate that significant health precautions will continue to be necessary for the foreseeable future, maybe even into next year. As part of the reopening process, team leaders need to carefully construct plans to implement best health practices that align with employment laws and guidelines for shared spaces for employees and members. While these plans require some patience and long-term thinking, the benefit to the credit union, employees, members and community are well worth the efforts. Demonstrating commitment to your members and community will no doubt have a positive impact on the success of the credit union today and in the future.
continue reading »