Setting aside any arguments for brick & mortar expansion vs. online/mobile growth – I think we’ll all agree that it’s an exciting time when your credit union is ready to expand. Whether you’re looking to expand to a nearby location in a market you know well, or are rapidly expanding into new markets with which you are less familiar, the question remains, where will you locate the new branch? Investing in a new location is one of the largest financial commitments a credit unio

Anyone can pick a piece of real estate to locate a branch or store. Someone on your team is likely familiar with the area. You may know that there is a new retail center being developed near a busy intersection. A helpful broker will provide a demographic summary of the area immediately around the property and maybe even some traffic counts. It begs the question: What value is there in conducting a market expansion analysis or site selection study? Investing in a new location

You had a list. You checked it twice. You must be done… shew (wipe of the brow). Now it’s time to sit back and reap the rewards of your branch transformation efforts… Please, No! Don’t stop here! Branch transformation is not a one-time project to check off a priority list. It’s not a piece of equipment, or any one item. It is a long-term commitment to transforming your culture, bringing along both your employees and customers, and adapting to changes as the industry evolves.

“So, let me get this straight. You want me to open new accounts, complete personal loans, AND process transactions?” We’ve heard this all before. A poorly executed shift to a universal banker model from a traditional teller/seller model, along with open concept banking, will cause severe heartburn for associates. For executives, the transition seems so easy on paper – it’s a leaner, more efficient model and far more profitable for the institution. The truth is, this shift doe

We’ve employed the same service vendor for almost a decade. The service has been moderately priced, and we’ve received moderate quality of service to match. Given that the owner is kind and very reliable, we’ve overlooked often rushed service and a few corners cut here and there. When I think of our interactions, I’m always smiling and polite. How would they know that we’re not completely satisfied with the service we’re receiving? The truth behind my smiles is that we’ve bee

We’ve all seen pictures of ultra-modern branches with Jetson-like features. Many can be mistaken for coffee houses or Apple stores with bright lighting, digital walls, and high-end modular furniture. While these new designs may be pretty, are they functional? It’s no longer just about keeping up with the banking Jones’, it’s about being compared to the retail, food service, and hospitality industries. The consumer experience benchmark has been set by the Amazons, Chick-Fil-As

By “creating space,” we don’t necessarily mean adding more square feet. More likely than not, “creating space” won’t require one additional square inch and may even lead to reducing your physical branch square footage. It's about being accessible to your customers in the ways that work for them. How are your customers currently interacting with your institution? How are you learning more about their preferences? Through industry research? Directly asking them? Testing and lea

We use the word “data-driven” [a lot!] to describe the strategic recommendations we provide to financial institutions and retailers. And, the truth is, with so many buzz words in our business lexicon, our beloved ‘data-driven’ may be interpreted by readers as another puffed up word that carries little weight. Conversely, some people may even assume that we’re referring to a fully-automated decision tool, with no qualitative input woven into our insights. Instead wondering how

Once you’ve assessed the market likelihood to adopt self-service, and evaluated customer behavior across your network, it’s time to examine the transaction mix at each of your branches. Which transactions will you target for migration to self-service? Identify which transactions will work best via the self-service channel and understand how that will impact the remaining teller transaction volume. Keep in mind that not all routine transactions will shift from the teller line