Branches as differentiators

CUNA’s Michlig talks evolution of branches post-pandemic

October 15, 2020

CUNA Chief Engagement Officer spoke to Forbes recently about what the coronavirus pandemic means for branch traffic and financial institutions, and what it means for the future of credit union banking.

Michlig told the publication that while credit unions reported a decline in branch traffic during the pandemic, they saw an increase in requests for informational meetings at branches for members to familiarize themselves with services like online and mobile banking.

“There’s always been a desire for credit unions to continue to have that in-person presence,” Michlig said, adding that CUNA member credit unions have had discussions about what other purposes branches could serve for membership.

Instead of tellers, Michlig said branches could be used more for meetings with staff members, financial well-being programming, or even meeting space for the local community.

Michlig heads CUNA’s Restart and Recovery Task Force, which brings together leaders from across the credit union movement to address concerns around business continuity, digital services and automation, staffing and operations, and industry financial impact.