You may recall a few months back that we were going to be diving into another R&D endeavor this spring, and we wanted to keep you updated on the progress. CEO Doug Burke partnered with John Best and Kirk Kordeleski of Best Innovation Group to conduct a sweeping study of credit union issues and concerns in 2018. The survey closed on March 31, 2018 (which many of you participated), and we would like to share some of the findings with you.
Initial survey results are summarized below:
Survey dates: February 15, 2018 through March 31, 2018
Geography: CU Service Network clients in 26 states, ranging from Maine to Arizona
CU total asset size: Ranging from $50M -$750M
Completed responses: 46
Check out the graph below to see how our survey participants ranked their credit union's priorities.
As you can see, data analytics and cyber security ranked as most strategically important. 95% of participants said data analytics were extremely or very important, and 80% said cyber security was extremely or very important.
This is just one of many questions we asked in the survey, which included a drill-down on cyber security, upcoming rules and regulations, and fraud. Interested in seeing the rest of the survey results? CEO Doug will be presenting them at the lunch portion of our Symposium and Annual Meeting on May 16. Click here to register.
We will continue to keep you updated on the progress and results we have with this R&D project!