Are credit unions relevant in today's social and crowded-sourced world?
Credit unions' competition is not just big U.S. banks. Recently in San Francisco, Bank of India billboards were seen marketing the convenience of deposits in overseas accounts. With technology evolving, our idea of member service will need to evolve to remain relevant in today's social, global and crowd-sourced world.
In support of the "Do Not Tax My Credit Union" movement, I emailed my U.S. senator bullet points of how credit unions play a vital role in the financial lives of 96 million members. I added how credit unions innovated the old banking industry. After submitting, I sat there contemplating the relevance of credit unions today with the emergence of so many innovative banking-related startups.
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