Callahan & Associates has recognized Digital Federal Credit Union for the Marlborough, MA,
cooperative’s principled approach to financial services that has allowed the nearly $10 billion credit union to build relationships and fortify its relevancy in the decade ahead.
The 40-year-old credit union, known as DCU, is featured in Callahan’s quarterly series “Anatomy Of A Credit Union,” which explores the strategies and analyzes the performance of an exemplary credit union.
“DCU is a big credit union with an even bigger heart,” says Alix Patterson, Callahan’s chief experience officer. “It shows other credit unions that a core tenant of the movement — put people first — really does pay off.”
DCU neared $10 billion in assets and 860,000 members as of the third quarter. It’s had a decade of strong financial growth, but ask anyone at the big Massachusetts cooperative and they’ll tell you success has always been rooted in the credit union’s three guiding principles, known collectively as “The DCU Way”:
- People come first.
- Make a difference.
- Do the right thing.
Those nine words govern how the credit union operates. But in 2020 and beyond, what that means is evolving. A nationwide membership requires a state-of-the-art service strategy; a focus on the underserved necessitates new products and services; and a new generation of members highlights the importance of relevancy.
“We are focused on innovation and staying relevant,” says Nancy D’Amico, senior vice president of technology and innovation. “We believe that speaks well to the future of DCU.”
As a new decade dawns, DCU knows it cannot rest on its history of success. The financial services industry is changing. Members are changing. To keep the shop top of mind for its next generation of member while staying on top of potential risks, DCU will have to evolve. Just don’t expect “The DCU Way” to change.
The newest installment of Anatomy Of A Credit Union is available to read now in the third quarter issue of Credit Union Strategy & Performance.