It's estimated that consumers spend at least two days per year waiting in line for services at retail environments. This cross-market frustration, spurred on by the preferences of the Gen Y consumer, is leading credit unions to transform branch operations, with an emphasis on providing interactive, self-service options.

The branch isn't entering an end cycle; rather it is evolving with more of a concentration on sales than service. As technologies such as mobile and mobile remote deposit capture contribute to the decline of basic branch transactions, the value of the branch channel remains significant. In fact, the unique credit union concept of shared branching is becoming more important than ever. As the number of individual credit union branches decrease, the nationwide network of shared branch locations will enable credit unions to maintain their community presence.

Market indicators conclude that branches are increasingly viewed by members as destinations to conduct advanced transactions such as loans and opening new accounts. This will require a branch transformation process based on new technologies, but much more than that – it will also involve restructuring employee responsibilities and enhancing environmental designs.