COVID-19 has challenged the sustainability of the global economy and reinforced the necessity for communities to have strong economic epicenters. Credit unions are those epicenters, and local businesses need them to provide digital services and tools to remain relevant in all situations.
DaLand CUSO provides strategic solutions to help credit unions regain control of their data and stand firmly in their position as life-sustaining epicenters.
DaLand’s benefit is immediate efficiency and long-term relevance. For instance, Nutmeg State Credit Union has deployed, and Blue Federal Credit Union is in the process of implementing, a branch appointments solution that allow members to digitally schedule appointments to handle their financial business.
This service is core centric, directly driven by member interaction tracking capabilities of credit unions’ modern core-processing system. Since it is core centric, it rapidly addresses an immediate need without expensive vendor overhead (conducting business while also maintaining social distancing requirements) and produces a long-term value (useful data for how members are interacting in person with their credit union).
Similarly, Linn Area Credit Union modified its core skip-a-pay program to accommodate member financial distress incurred by COVID-19. Same situation: Core-centric solution, immediate need addressed, no superfluous vendors, and long-term value for community captured.
What if stimulus funds were deployed by digital coins through the Fed (as was on the table in a late version of the first coronavirus stimulus plan)? What if, for health reasons, physical cash is made obsolete, and digital assets and wallets take the front seat? Depending on the core, most of DaLand’s CODE clients would be in a unique position to host those digital assets, giving them access to the trillions of dollars being injected into the economy.
Despite the unique particulars of the COVID crisis, DaLand believes the formula for relevance is the same for any credit union in any circumstance: control of data and digital delivery, and building direct bridges to communities to add value through data and digital services.
DaLand’s solutions are relevance-generating portals, giving credit unions control of their core business strategy and driving that control from their core technology means direct engagement with consumers and greater yield on core business assets.
DaLand CUSO is a Credit Union National Association associate business member.