How BECUís IT Strategy Has Enabled Huge Business Growth
Newest First  |  Oldest First  |  Threaded View
User Rank: Author
12/8/2014 | 4:57:53 PM
Re: Unique challenges for credit unions?
BECU is kind of in a unique position in regards to how tech savvy its customer base is since it is a real mass market provider in a very tech-savvy environment in the Seattle area. So their custoemr base is definitely looking for great digital experiences. There are probably a lot more credit unions that have older customer bases who still bank using tradtional channels. But if those credit unions are going to survive then they need to start catering to new, younger customers.
User Rank: Author
12/3/2014 | 12:59:08 PM
Unique challenges for credit unions?
Congratulations to Butch Leonardson on this honor. It's interesting that he sees an opportunity to extend the lessons from BECU to other players in the credit union industry. I assume this segment has some unique challenges around size, scale and regulation, but also some potential advantages in terms of customer insight. They certainly must be feeling the same kinds of competitive pressures that community and larger banks are facing. I could see the digital trend creating some great opportunities for CUs to broaden their offerings, but also potential resistance from traditional customer bases.

Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.