Optimizing the branch: Getting by vs. getting ahead

A longstanding challenge for credit unions has been optimizing their investment in branches. In the not-too-distant past, big banks with their coast-to-coast network of physical locations commanded a clear lead.

Today, the competitive advantage may be swinging more toward buzz-worthy solutions for mobile and online account access, from both traditional financial institutions and new financial technology (fintech) companies.

Still, the financial services industry is a long way from bidding farewell to the branch. So rather than standing pat, it may be time to reinvent person-to-person service with a sales-centric flair.

A white paper from Financial Management Solutions Inc. (FMSI) on the “Top Five Practices Holding Your Branch Back” pinpoints the areas where credit unions can either get by with a traditional service model or get ahead by implementing an innovative approach to personal service tailored to members’ needs and expectations.

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