Viral catastrophe. Digital response.

A new normal in the age of COVID is taking shape. Now, five credit union leaders share what the pandemic has taught them and what they’re doing with that knowledge.

The coronavirus has forced credit unions across the country to dramatically change how they do business and serve members. At the onset of the pandemic in the United States, branches closed in nearly every state, and credit unions across the country focused on retaining service levels through digital channels.

Now, leaders are reflecting on what they learned during that scramble to respond. What surprised them? Will new insights inform future strategies and tactics? Are there any new must-haves?

Here, credit unions with varying delivery models talk about takeaways and lessons learned from a pandemic that is far from over.

Aspire Federal Credit Union

Tom O’Shea has been president and CEO of Aspire Federal Credit Union ($137.1M, Clark, NJ) for the past 15 years. The New Jersey credit union has been essentially branchless since 2014 and closed its member service center in mid-March. That two-desk operation handled new accounts, lending, and special requests and will remain closed unless member needs dictate otherwise, O’Shea says. Image: TomO’Shea_Aspire Caption: Tom O’Shea, President and CEO, Aspire FCU


continue reading »