Are You Ready for the Brave New World of Post-pandemic Tech: Credit Union Advisory
by Robert McGarvey
The realization is growing: at credit unions there is no “return to normal.” Forevermore how business is done will be different. And, a lot more technology focused.
That is the conclusion from dozens of conversations I have had over the past weeks with credit union CEOs, consultants, and just plain members. To a person, they all had initially thought the COVID-19 triggered changes – from branch closures to huge spikes in online and mobile banking transactions – were a fleeting change.
Things are different three months into the pandemic response. “I expect a lot of the changes that were made in credit unions will remain in place. We are not going back to how things exactly were before,” said Brad Smith, a credit union expert with consulting firm Cornerstone Advisors.