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CU Snapshot

 Apr '18Mar '18
# of CUs5,7245,727
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings82.9%81.5%
Loan Delinq.0.8%0.8%

         Credit Union Indicators

Staff Decisions Vital to Your Digital Future

Do you have the workers you need to survive?

The composition of your staff is vital to your credit union's future, said John Best, president of Best Innovation Group, during a breakout session at the CUNA Lending Council Conference.

In addition to traditional staff—such as tellers and loan officers—Best said credit unions need a new wave of employees to compete in today's digital marketplace, including:

Your competitors are trying to slice up your business by relentlessly targeting specific aspects of consumers' financial lives, said Best.

To survive in the new world of unbundled services and niche apps, Best said credit unions must truly commit to digital services, big data analytics, and innovation. That includes hiring the right staff with the right skills.

"Digital is not a product. You have to change the essence of who you are," Best said. "Analytics is not a product; it's a discipline. Innovation is a fruit, not a goal."

(Via news.cuna.org)