The financial services world, especially when it comes to the lender-borrower relationship, is undergoing intense disruption. Status quo leadership and lending will not work for most small credit unions. The time to evolve is now, and that is precisely why we have founded our new CUSO, CU Evolution
This month, we officially opened CU Evolution’s doors for business. The CUSO gives small credit unions (under $100mm) the strategies and tools to provide exceptional member and employee experiences in a rapidly evolving world.
My colleague, Deke Alexander, CEO of CU Evolution, summed up our mission best when he said, “Great leaders and great lenders – those are the credit union people who will transform the movement. CU Evolution’s hands-on, fully customized programs are built to help today’s credit union leaders and lenders go next-level, and fast.”
Our team is focused on evolving a credit union’s strategic planning, lending, leadership and marketing capabilities.… Read more
Innovative Banking Solutions, Member-Centric User Experiences at Heart of Partnership
Looking for a business partner to help it digitally transform its services to members, Water and Power Community Credit Union has contracted with CO-OP Financial Services for products addressing member needs at virtually every touchpoint.
WPCCU (www.wpcu.org), based in Los Angeles California, is a longstanding participant in the CO-OP Shared Branch network of more than 5,700 branch locations and CO-OP ATM network of nearly 30,000 ATMs nationwide. It will now use CO-OP Terminal Driving services to help manage its own ATM fleet, as well as use CO-OP PIN/Signature Debit and CO-OP Full-Service Credit to process cardholder transactions. WPCCU has also retained CO-OP’s call center services for direct member-facing customer service.
“We made a philosophical decision to go with CO-OP because we believe they are the best organization to help us with our digital transformation,” said Celeste Zibelli, Vice President, Marketing and Financial Services for WPCCU.… Read more
Paper Explores Seven Strategies for Credit Unions Evolving for Digital Consumers
CO-OP Financial Services has released a new white paper, “Seven Strategies to Accelerate Your Digital Transformation,” providing practical guidance for credit unions positioning themselves for growth in a digital world.
“While most financial services providers understand the ‘what and why’ of digital transformation, they are less comfortable with the ‘how,’” said Todd Clark, President/CEO, CO-OP. “We’ve seen firsthand the acceleration of the digital marketplace and understand that digital transformation is the only solution forward. This paper identifies seven essential strategies we’ve discovered through our own shift from a legacy organization to a digital-first, integrated ecosystem.”
Credit union leaders will learn why each of the strategies for accelerated digital transformation is critical to success in the digital era, as well as how to begin implementing them within their credit unions.
The seven strategies explored in the paper are:
Be Member-Centric.… Read more
June 30th marked the eighteenth anniversary of the enactment of the Electronic Signatures in Global and National (ESIGN) Commerce Act. Passed by the United States Congress in 2000, the act facilitates the use of electronic records and signatures in interstate or foreign commerce. Dubbed “National eSign Day”, the act has been instrumental in empowering credit unions to enhance their members’ experience and advance the cooperative movement at large.
The ability to apply digital signatures to electronic documents has returned value to credit unions by saving them time, money, and resources. For example, eDOC Innovations’ eSign solution, eDOCSignature, has saved credit unions 1,020,000 sheets of paper (127 full grown trees), and more than $55,000 in printer ink over the last two years. In addition to resources saved, credit unions now are closing nearly 50% of their loans electronically, increasing speed to closure and saving their members time. Similar value is being added by all eSignature solutions penetrating the credit union space.… Read more
Earlier this month I was in Athens, Georgia teaching Marketing/Business Development and Innovation to the students of Southeast Regional CU Management School (SRCUS). After my last class I needed to get to the Atlanta Airport to catch the last flight out – which is always dicey and to make matters worse – a huge thunderstorm was rolling in. At lunch I mentioned that I was a bit nervous because Atlanta traffic can be unpredictable in the best of times. That’s when I heard about Waze.
Waze is the world’s largest community-based traffic and navigation app. Imagine millions of drivers out on the roads, working together towards a common goal: to outsmart traffic and get everyone the best route. It’s crowd-sourced information about police, traffic jams, accidents, and I’d soon come to find out, flooding in the road.
So I downloaded the app, and to make it even better it’s cute and fun and you can change the voice and customize the settings to do things like compare gas prices as you’re nearing stations.… Read more