CU digitization working group releases statement of purpose

The U.S. Credit Union System Digitization Working Group, led by CUNA Executive Vice President and Chief Engagement Officer Greg Michlig, released a purpose statement Thursday. The group includes 41 credit union system leaders from across the U.S. to create a roadmap for digitization.

These leaders include CEOs and executives, League executives, and credit union system organizations, including both CUNA, the American Association of Credit Union Leagues, and CUNA Strategic Services.

“The scope is daunting, but we are ready to take this on,” Michlig said. “Our working group has met twice thus far, and during those meetings we spent considerable time narrowing the focus of what we want to address when it comes to digitization. One key area of focus will be to explore how digital can drive and improve member experiences to meet their heightened expectations.”

According to the statement, the working group will:

• Create strong awareness of the factors driving the digital transformation of financial services;
• Identify the strategic imperatives, gaps, and opportunities for credit unions to remain relevant and thrive through the provision of digital services to their members; and
• Translate ideas into a judicious number of actionable solutions and drive system collaboration to foster widespread access to, and adoption of, those solutions to excel in consumer satisfaction metrics and help members achieve financial well-being.