Credit Union System Digitization Group Releases Its 2021 Report
FOR IMMEDIATE RELEASE
January 31, 2022
Washington, DC
The Credit Union System Digitization Working Group, led by Credit Union National Association (CUNA) EVP/Chief Engagement Officer Greg Michlig, today released its 2021 End-of-Year Report.
The report includes the latest insights from credit union leaders who are creating an industrywide roadmap for digitization. For the second half of 2021, the Credit Union System Digitization Working Group developed a framework for benchmarking and self-assessment tools that will help credit union execute new and existing digital strategies.
“Each member of this group is committed to growth and innovation within the credit union movement, and digitization is a huge part of that process,” said Michlig. “Last year, we laid the groundwork for what we hope will become an industrywide effort to deliver better digital solutions. Looking ahead, we are focused on developing tools and thoughtful guidance that every credit union can implement, regardless of their asset size or infrastructure.”
The Credit Union System Digitization Working Group formed three new workstreams to transition to the actionable item phase from the information gathering phase.
- The Maturity Model Roadmap group will identify key offerings, strategies and operational checkpoints credit unions should consider in relation to their digital maturity.
- The Digital Journey Assessment Tool group will develop a tool that gives credit unions the opportunity to perform a self-evaluation, identifying the next steps to take on their digital journey.
- The Credit Union Digitization Score group will create a scoring matrix to benchmark digital activity, giving credit unions data to measure the impact of their digital tools and offerings.
The Credit Union System Digitization Working Group evolved from the CUNA COVID-19 Restart and Recovery Task Force and is a collaborative effort of 41 leaders from across the credit union movement to ensure that credit unions and system partners can remain relevant in this fast-changing operating environment.
You can read the full 2021 End-of-Year Report here.
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About CUNA:
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by more than 120 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
CONTACT:
Lauren Williams
CUNA Communications
202-672-3396