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CU Snapshot

 Aug '17Jul '17
# of CUs5,708 5,893
Members
(millions)
112.7112.2
Total Assets
($ billions)
$1,372.1$1,383.7
Total Savings
($ billions)
$1,158.6$1,165
Net Cap.
Assets
10.8%10.7%
Loans to Savings82.3%81.5%
Loan Delinq.0.8%0.7%

         Credit Union Indicators

The Value of Human-Centered Design

Transform your CU and products to serve members.

Now that transformative technology is everywhere and almost magical in its capabilities, the technology itself has become less important.

What matters most is the elegant application of technology to solve problems for real people in the real world, says Jason Osterhage, senior vice president of lending at $8.4 billion asset Alliant Credit Union in Chicago and chair of the CUNA Lending Council Executive Committee.

How is that best accomplished?

By marrying human-centered design to the latest advances in behavioral science, according to Osterhage.

Human-centered design is simply an approach to innovation that begins with empathy, draws insight from diverse functions and disciplines, employs visual thinking, and uses prototypes to validate ideas.

And the design must be scalable. Implementing and scaling products or service experiences developed using human-centered design requires modular, configurable operations—think flexible, "Lego-like" business model design.

Osterhage sees two areas of lending operations where this approach will become more imperative in the near future: loan origination, and integration of vendors and strategic partners into lending operations.

The most advanced and innovative banking businesses are pioneering these techniques today. In the near future, everyone will need them just to keep up.

Credit unions that start now will emerge as the highest-service and lowest-cost lenders of the future, says Osterhage.

(Via news.cuna.org)