CUES Member Community

Expand all | Collapse all

The future of Digital for Credit Unions?

  • 1.  The future of Digital for Credit Unions?

    Posted Apr 13, 2020 03:25 PM
    We are a $3 Bil credit union and I'm looking for best practices or opinions on the future of Digital in your credit union.  I'm wondering of the organizational structure of your digital delivery team, what area are they positioned?  Under Technology?  Under Retail?  Under Operations?

    Do you see digital delivery a stand alone team with their own AVP/VP?  Will our past focus of digital delivery be enough for the future of digital delivery.  Is anyone planning on making changes to their org structure to position digital as a top priority for features/function and needed focus?

    Thanks for participating!

    Michelle Peterson | Senior Vice President Member Experience, CRO

    Travis Credit Union
    One Travis Way | Vacaville, CA 95687
    Office: 707-469-1694 | Cell: 707-365-4997 | Email:



    Michelle Peterson
    SVP/Chief Retail Officer
    Travis CU
    Vacaville CA

  • 2.  RE: The future of Digital for Credit Unions?

    Posted Apr 14, 2020 06:30 AM
    Years ago I worked for a large credit union and we were one of the first to have a dedicated e-Services department.  I was a VP level and reported to the COO.  We did some fun and great stuff.  Today I am the CEO of a virtual credit union.  Basically 99% of our transactions are remote driven.  We serve a worldwide engineering membership.  I believe digital should be a standalone group, not part of IT, and the same level of whoever leads your retail branches.  Although the number of employees reporting will be significantly lower, the number of members being served through this channel will be significantly higher.  This takes someone that is not so technology minded that they forget about the member experience.

    Ray Crouse
    Parsons FCU
    Pasadena CA

  • 3.  RE: The future of Digital for Credit Unions?

    Posted Apr 14, 2020 08:08 AM
    Michelle, We're a $750 million CU who has been working on the digital transformation for a few years now. I will tell you that we did centralize the technical function in IT, but dedicated individuals to be systems analyst for specific functions. This helps with project prioritization and resource allocation. Probably more important, we emphasize that every discipline (lending, branches, call center, accounting, marketing, etc) has to build the knowledge base into their operating unit, at the manager level.

    Our plan focuses on a few key transnational themes; mobile first delivery, Data analytics, marketing automation, straight through processing, and branch modernization.  The sr. team and dept. heads developed the initiatives that supported theses themes, not IT. Dept managers had to gain an understanding of AI, chat bots, robotic process automation, text and notification tools, ITMs, in branch video, use of ipads in branches etc.

    One exception, if your thinking of hiring a data scientist, put them in marketing, not IT or finance. If your using data analytics to target market, it need a marketers influence.
    Rich Helber

    Richard Helber
    Tropical Financial CU
    Miramar FL

  • 4.  RE: The future of Digital for Credit Unions?

    Posted Apr 14, 2020 08:52 AM
    I love this discussion question!  Where does digital delivery belong? Does it change places inside your org chart if your $3B or $30MM?
    In my opinion, digital delivery is your CU.  Digital tools touch all departments; member facing and non-member facing alike. But in regards to digital delivery specifically, my vote is retail.  They should be the ones educating your members on the new features and added benefits as you roll out new enhancements and products.

    Michael Armstrong
    United Arkansas FCU
    Little Rock AR

  • 5.  RE: The future of Digital for Credit Unions?

    Posted Apr 15, 2020 05:20 AM
    Retail and Marketing...!

    Bernard McLaughlin
    Point Breeze CU
    Hunt Valley MD