Use Blue Ocean Strategy for credit union positioning in a digital economy
When credit union leaders are asked about what makes their credit union different, the response typically revolves around great rates and service.
But is that really the case, especially in a digital economy when a simple Google search allows a consumer to find the lowest rate possible? What about the digital service and user experience a credit union provides? How does that measure up to digital competitors like Moven, Simple and GoBank?
I recently participated as a panelist in the “Not for CEOs” panel discussion at this year’s CU Water Cooler Symposium. As I note in the video taken from the event, trying to build a position on great rates and service is not even possible, according to the Blue Ocean Strategy principle, as they are at complete opposite ends of the operating spectrum.
