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February is the month of love and we are crushing hard on data analytics. I mean, full blown photo taped-inside-the-locker, daydreamy, writing-combined-names-in-a-heart crushing. And we wouldn’t be surprised if you are too. Data analytics is the hottest topic of the year for credit unions. Some of the questions we are hearing in the industry are: How can a data analytics program be utilized without breaking the budget? Where do we start? How do I hire someone to do this? What do I actually do with the data once I have all of it? How do I show ROI? How do I know if she likes me…wait, that was eighth grade.
Last month, we reported that credit unions are being affected by the socioeconomic challenges of lack of skilled staff and cost of living in their communities. This month, we asked select credit unions across the country: How are you affected by these staffing challenges and what can be done to combat it? Below are responses from five credit unions in vastly different regions: Denver Metro, CO; Tucson, AZ, Pocatello, ID; Silicon Valley, CA; and Washington, D.C. who have shared their pain points and what they are doing to overcome these challenges.
In early February, self-sovereign identity FinTech CULedger announced that is has rebranded its digital identity solution, MyCUID, to MemberPass. Some of our readers may be aware that we are an investor of CULedger (check out our interview with CULedger CEO here). “CU Service Network feels strongly about authentication which is why we previously invested in CULedger,” says Doug Burke, President/CEO of CU Service Network. “We are excited about their progress and wanted to share some recent news and their changes. We believe their new MemberPass name should be more universally accepted by credit union members.”
By Trisha Wiggin-Fausnaugh, Operations Manager
With all the emphasis on new delivery channels, it’s easy to forget that many members still prefer banking in person. Shared branching gives your members that option nearly anywhere they are. In fact, CO-OP Shared Branch now offers more branches than any bank. Nationwide, accessibility to shared branching continues to grow.