As a credit union executive, you read, see and hear it all the time. If you're going to survive you need to grow, which means navigating two critical challenges: Keeping up with capital and with earnings. The urgency of this equation has been intensified by COVID-based market disruptions, notably in the way members interact with their credit union – behavioral changes that likely are here to stay. Here, we'll focus on branch system rationalization and suggest a useful implementation tool for credit unions with the right facilities configuration.

Branch System Rationalization

In a recent article for CU Times, industry thought leader Tom Long of The Long Group explained how the branch system has gone quiet because of COVID-related shifts in member behavior, which has driven down branch-based transaction volume by 30% – a pattern that is expected to be more or less permanent. Long said: "Credit unions that successfully realign network delivery to traverse this challenge will emerge with the ability to capture an increasing share of present and future market opportunity."