PHOENIX–Here is the consumer conundrum for credit unions in a nutshell: They want to share their personal information, but they also want privacy, they want to use technology for everything, but want it to be personal. And they expect it to be perfect.
“None of this is reasonable, but it is reality,” said Jean Chatzky in remarks kicking off CO-OP’s THINK 18 Conference here.
It’s all part of the “Race to Excellence,” the theme of the THINK18 meeting, she noted.
Chatzky, an author on financial topics and the financial editor with the Today Show, said credit unions will have to navigate that unreasonable road, with the only good news being that so will every other type of service provider.
“What has changed is the way your members live their lives,” said Chatzky. “The digital lives are creating a massive challenge for the credit union movement. What’s happening is consumers don’t really know how the digital world works, but they are hooked nonetheless. They are living in the digital age, but they are undeniably human. We can’t help but be human. We all want the immediate experience of digital, but we also want relationships and trust. That is the challenge we all face. That is the race to excellence we are all in. We need to meet these rapidly evolving consumer expectations, and we need to nurture the human connections and our relationships with the people we serve.”