Credit unions are facing significant pressure from competitors and evolving member expectations, but they are also ideally positioned to support members and deepen relationships during uncertain economic times.
I recently spoke with Greg Cornell, Executive Vice President of Member Experience at the California Coast Credit Union (Cal Coast), to learn about the challenges and opportunities that lie ahead for credit unions, and how Cal Coast has harnessed technology, partnerships, and a member-first mindset to deliver a connected member experience. Cal Coast’s mission of simplifying the lives of its members and helping them achieve greater financial prosperity is admirable, and Personetics is proud to partner with them on this journey.
Credit Union Members Have New Choices and Expectations
Credit Unions face increasing demands and rising expectations from their members. “Expectations around consumer engagement and experiences have been elevated like we’ve never seen before,” Greg shared. The pandemic brought a huge migration to digital banking channels, helping close the generational gap around adoption. Today, while Gen Z is 1.6 times more likely to choose digital channels for engagement, 57% of Cal Coast’s total membership says they prefer digital.
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