According to a recent CO-OP study, the vast majority of credit unions – a full 88 percent – view digital transformation as “extremely” or “quite” important. Even so, nearly half of credit unions surveyed describe the digital experience they provide as “inferior” or “far inferior” to that of today’s top brands.
Success in digital transformation requires credit unions to adopt a member-centric approach in everything they do. But it also requires looking beyond your organization and finding partners that share your vision and can help you in areas that need more attention.
Here is how two forward-thinking credit unions are meeting today’s challenges, bridging the digital gap with CO-OP by their side.
Delivering Omni-Channel Access
A longstanding participant in the CO-OP Shared Branch and ATM networks, Los Angeles-based Water and Power Community Credit Union (WPCCU) recently expanded its CO-OP services to include terminal driving, PIN/signature debit, full-service credit and call center support.
According to Celeste Zibelli, Vice President, Marketing and Financial Services for WPCCU, the main objective of the new, extended partnership is to fast-track the credit union’s number one digital initiative: providing seamless, secure, omni-channel access for members.
“We wanted a partner – not a vendor – one to help us deliver really innovative banking solutions and empower our team members to provide amazing user experiences,” she said. “By working with CO-OP on many different services, we will be able to offer a more consistent experience for both members and our staff.”
Data is core to WPCCU’s digital transformation and CO-OP has been enlisted to help the credit union build out its data strategy. “Even though many transactions today move through digital channels, we want to continue to serve our members personally,” said Zibelli. “To do that, we need all the data we can get our hands on.”
Winning the Payments Race
Even businesses with the best products, service and data can struggle to provide a seamless member experience if those solutions are not tightly integrated.
Albuquerque-based Nusenda Credit Union sought a technology partner to help integrate their various payments products and services. To date, the credit union had split its debit and credit processing between vendors, a paradigm that led to operational inefficiencies, technical limitations, and maintenance and training burdens that have impacted its payments offering. To better integrate its solutions going forward, Nusenda is moving all card transaction processing to CO-OP.
“We are looking to leverage the industry’s most advanced payments technologies – and to be first to market with new services based on CO-OP’s API suite,” said Terry Laudick, President and CEO of Nusenda. “In addition, we require state-of-the-art fraud analytics, which CO-OP is rolling out this year with COOPER.”
Strategic partnerships can transform your business in bold new ways. In an increasingly digital age where member expectations are constantly shifting, finding the right partners to help you achieve business and operational excellence it is more important than ever.
Contact us to see if CO-OP is the right technology partner to help you digitally transform.
Join us at an upcoming CO-OP Roadshow event, where we’ll be sharing strategies for developing a member-centric strategy at your credit union: