DES MOINES, Iowa—As two Chicago banks introduce cardless ATMs, which allow cash withdrawals via smartphones, experts are split on whether the technology will catch on. The new ATMs, introduced by BMO Harris Bank and Wintrust Financial, work by letting consumers prepare for a transaction before arriving at an ATM.
ST. PETERSBURG, Fla.—While not a mainstream business practice quite yet, it’s become increasingly accepted that happier employees make for happier members. “Happiness metrics” have even been developed to measure the affect of happiness on the bottom line. Where the real challenge lies is in the “how” of getting to that happy employee. One secret: Paying people big bucks to quit.
COLORADO SPRINGS, Colo.—Credit unions as “hip and sexy?”At least one person thinks so, arguing CUs are in vogue because “sharing” is going to be the great theme of the 21st century.
OLORADO SPRINGS, Colo.—The creator of one company with a “completely stupid name” that has seen extraordinary success, and another company that is not just “ridiculously awesome” but also fixing a big problem in many schools, told credit unions they have “more opportunity than anyone else on the planet.”
COLORADO SPRINGS, Colo.—One executive with Tesla wants credit unions to realize how he and others view the company: “We are not a car company, we are an energy innovation company.” The point of that is to urge credit unions to rethink what it is they are.
COLORADO SPRINGS, Colo.—Is your credit union a “habit” with members? It needs to be. In a different way of thinking about products and services, credit unions were given some interesting insights into the psychology of human behavior and why consumers make the choices they do.
DUNEDIN, Fla.–For what is believed to be the first time in history, a credit union is looking to merge with a bank, rather than do a purchase-and-assumption.
ST. PETERSBURG, Fla.—“Emerging payments can be fun. It doesn’t have to be scary.” That’s the word from Tom Davis, chief technology officer with CSCU, who said not only should credit unions not fear all the changes occurring in payments, once they understand where they are well-positioned, where they need to make changes, and where lies the growing value of what they hold or could potentially hold, they will see opportunities to pursue
WASHINGTON—Even if “headwinds” eventually cut back the number of CUs offering free checking, credit unions will hold onto more consumer-friendly pricing over banks.
HARRISBURG, Penn.—For the second consecutive quarter, one of Pennsylvania’s largest credit unions has been named Best in Class for its Net Promoter Score. In the credit union category, PSECU achieved an NPS of 80. The industry average is 60. Now, with real-time tracking tools that let the CU view members’ survey responses in real time, PSECU feels it can push that number even higher.
