For this milestone episode, CUES Podcast listeners submitted their questions for experts to answer. So instead of featuring one or two experts, this show features seven! Instead of being centered on just one idea, this show covers three areas of major interest to credit unions and their leaders: reopening physical branches in light of the pandemic, reaching and engaging young members, and the future of credit unions 25 years out.
Our first question about when credit unions might reopen fully comes at the 5:12 mark from CUES member Ron Kraus, chair of the board of $2 billion Together Credit Union in the St. Louis area. Kraus’s question is first answered by Mike Carter, EVP of CUESolutions Bronze provider Strategic Resources Management, Memphis, Tennessee. A second response is given by Steve Reider, president of CUES Supplier member Bancography, Birmingham, Alabama. Neither expert expects 100% reopening across the country by Thanksgiving and each has ideas about the larger implications of the pandemic on the financial services.
The show’s second question is from CUES member Karen Bruce, associate board member at $1.7 billion America’s First Credit Union, Birmingham, Alabama. It's about how credit unions can best reach and engage young members and comes at 12:04.
Bruce’s question is answered by three experts: Ben Stangland, president/COO of CUES Supplier member Strum, Seattle; Keith Brannan, chief marketing officer for Kasasa, Austin, Texas; and Jeff Fromm, author of four books and the president of Futurecast, a subsidiary of Barkley, New York. The three say young members are a great opportunity for credit unions and offer ideas for connecting with them.
The third and final question in the show comes from CUES member Mary Gray, director of member engagement and programs at $1.8 billion A+ Federal Credit Union, Austin, Texas. It's about what credit unions will look like in 25 years and comes in at 25:06.
Two experts with vision provide answers to Gray’s forward-thinking question: Steve Williams, principal with CUES Supplier member and strategic provider for technology and planning services, Cornerstone Advisors, Scottsdale, Arizona, and Chris Skinner, an independent technology commentator at The Finaser blog, the author of several books and chair of the Financial Services Club.
Williams says in 25 years there is great opportunity for both large banks and grassroots financial services. He notes four words that come to mind about qualities that credit unions that can stay the course will have—purpose, talent, technology and scale—then elaborates on each. Skinner suggests not trying to compete with big banks but rather standing for something other than shareholders and profit. He believes credit unions have a great opportunity to deliver on this idea.
The show also gets into: