Credit unions figured out long ago that to compete with the big banks, they need to compete on technology. After all, if a credit union can combine an equivalent member technology experience (online, mobile, etc.) with lower rates, superior service, and a commitment to the local community, that credit union will have created a winning formula. The growing success of credit unions across the country proves that this formula is indeed a winner.

Unfortunately, other local businesses have not been so lucky. When it comes to consumer-facing technology, local businesses are simply being outspent by their national competitors. And as these national chains continue to use technology to making spending money easier and easier, the local businesses will inevitably lose sales.

Mobile apps represent the most obvious example. National retailers like Starbucks and Target have become as well-known for their mobile apps as they have for their retail success. Starbucks may not be the best cup of coffee on the market, but it's certainly the easiest to buy.