Credit Union Branches Adapt to the Age of COVID

The coronavirus is everywhere, threatening the health and lives of everyone at least until an effective vaccine is developed. In the meantime, all of us must adapt our lives to it, and credit unions must adapt to life with the virus as well to keep meeting the service expectations members and prospective members expect and demand.

In this new reality, how can credit unions reimagine their branch operations and leverage technology solutions that will enable staff to consistently deliver high levels of service, as well as reassure employees and members that they are in a safe environment? Experts said there are immediate, low-tech options as well as high-tech solutions that can keep branches operating safely and securely for however long the coronavirus lasts.

One of the first challenges is keeping the entryway to the branch clear at all times so employees and members don’t violate social distancing policies, according to Steve Ryker, vice president of compliance and risk for Cook Security Group in Portland, Ore.

Credit unions should consider hiring or appointing someone from its staff as a lobby manager who can assure the entryway is always clear and control the number of members who come in and out of the branch. Since many entryways are only six feet wide, it’s important for members to walk in alone, and are allowed to walk out alone before other members walk through the entryway. Some credit unions are using one queue for walk-in traffic and another for appointments, Ryker noted. To manage the traffic at peak times, credit unions have been asking members to remain in their cars and texting them when it’s OK to enter the branch.

Even though many credit unions have installed signage to guide members through the branch, a lobby manager can also help maintain a good member experience.

“Every now and then you come across an individual who doesn’t seem to get the fact that we’re in this COVID environment, and they are not respectful of social distancing, so having an employee at the financial institution provide some corrective directions to that person is much better than having two members correcting each other, which has a tendency to escalate things, and nobody wants that,” Ryker explained.

Removing most or all of the lobby’s furniture and check-writing stands is another way to open up the branch’s interior to enable social distancing.

Because social distancing and mask-wearing are proven, effective ways to prevent and reduce the spread of the coronavirus, it is important for credit unions to keep track of whether their branches are consistently enforcing social distancing policies.

Video analytics software, for example, projects a virtual six-foot “halo” around each person inside the branch. A person with a green six-foot halo indicates appropriate distancing and a red halo indicates six-foot distancing was not achieved.

What’s more, this system can generate reporting to help credit unions evaluate the effectiveness of their social distancing programs. Video analytics also provide heat mapping based on employee and member activity inside the branch. Heat mapping also alerts credit unions to when their cleaning services should focus more attention on high-use areas.

Video analytics can also help executives determine which branches are effectively maintaining social distancing and which may need additional adjustments and training, Ryker said.

Safe UV-C light technology is also a proven disinfectant against viruses and bacteria. UV-C lights installed in cabinets can be used to disinfect drive-up tubes, keyboards, microphones, keys, pens and other small pieces of equipment regularly handled by employees.

In addition to UV-C light solutions, Tim Klatt, director of retail strategies for the LaMacchia Group in Milwaukee, Wis., noted in a recent webinar for the Cooperative Credit Union Association that there are other technology options that can keep members and employees safe.

“A lot of us are probably buying a ton of Lysol wipes, a ton of sanitizers, sprays and towels, and we have a whole routine for wiping things down. It works but it’s a lot of effort, and how sustainable is that?” Klatt asked. “What we’re finding is there’s a lot of opportunity to utilize technology, not only to remove this burden from employees, but also to do this in a way that is not as wasteful.”

For example, automated doors and toe hooks installed to the bottoms of doors can allow members and employees to walk in and out of the branch without touching contaminated door handles.

Replacing high-touch areas with copper fittings or surfaces also can eliminate the spread of germs because they can’t stick to the bronze metal.

Klatt also suggested using continuously self-cleaning products such as NanoSeptic surface products for door handles, elevator buttons, mouse pads, touchscreens, reusable tissue boxes, counter mats, table mats and jumbo desk mats. According to NanoSeptic in Forest, Va., its surface products use natural light to activate mineral nano-crystals within the products, creating a powerful oxidation reaction. Working 24/7, the surface continually oxidizes organic contaminants that can make people sick.

In addition to these solutions, Klatt noted it is critical for credit unions to communicate with their employees and members about how they are keeping their branches safe and secure.

“Two-thirds of consumers indicate that they feel better about using a branch where there is some type of communication, such as signage, telling them what we [credit unions] are doing in order to keep our members safe,” Klatt said.

Since the COVID crisis forced members to use digital channels to do their banking, Klatt said they will expect credit unions to seamlessly integrate those digital channels with branches now that most states are reopening for business.

“Consumers and businesses have been asking for the ability to merge those two realms [digital and physical] together for a while, specifically to be able to start something online or on your phone or on a call, be able to walk into a location and not have to repeat the process,” Klatt said. “That seamless integration – no matter where I am interacting with my credit union – I want to be able to start a conversation in one place, finish it in another place and just have it be seamless.”

Moreover, out of the COVID-19 crisis is a general emerging trend called the “expert economy.”

“For a long time, you’ve had the experience economy, and that is still a factor amongst the younger individuals, but now we’re really starting to see this emergence of the expert economy,” Klatt said.

The expert economy relates to how people have been getting information, particularly younger individuals, through social media channels such as Facebook, Twitter and Instagram. When COVID-19 surfaced, people were eager to find information about the virus but there was a lot of conflicting information all over the place, Klatt noted.

The World Health Organization, CDC and National Institutes of Health had reliable information about the coronavirus and people swarmed them because they were desperate for expert advice. Klatt explained that the expert economy is gaining traction because people want to know what is real and true.

Klatt said he believes consumers are going to continue to search for reliable and trusted experts, which opens opportunities for credit unions to establish themselves as financial experts serving their members and the community.

“If we can have the space where people can engage with their experts in their financial landscape and provide tools and environments that support those experts, I think we’re going to create this sense of differentiation that is really going to become a trusted source for our members and really set us apart from their expectations of what a financial service provider is,” Klatt explained. “If we, again, find ways to use technology to personalize that experience and customize it to our individual member, I think that’s going to take it to that next level and really become our expert advisor for every asset of the aspects of their life.”

When credit unions can position themselves as the financial experts, Klatt forecast that the branch will evolve into a consultative center where members will go for advice, guidance or education to enhance and improve their financial lives.