35% of CUs Expect Return of Pre-Pandemic Norms by Summer: CCUA Survey

A new survey released Thursday by the Cooperative Credit Union Association in Marlborough, Mass., found that nearly 35% of its member credit unions expect to return to pre-pandemic normal operations over the summer months.

When asked for their target dates for returning to normal operations, 23.26% of credit unions said after the July 4th holiday, while 11.62% said after Labor Day.

However, nearly 28% of CCUA credit union members reported they intend to get back to normal operations as soon as possible or once restrictions are lifted in their state.

CCUA represents about 200 credit unions in Delaware, Massachusetts, New Hampshire and Rhode Island. Forty-three credit unions answered the survey for a response rate of 21.5%.

About nine percent of credit unions said they do not expect normal operations to be back until sometime during the fourth quarter.

Currently, the CCUA survey said 60% of credit unions are still working on a hybrid staffing model that includes some employees are working from home while others are working in branches or offices.

About 18% of credit unions reported that every employee is now working in a branch or office and 11% said everyone is working remotely except for staff that is required to work out of the branch or office. Nine percent of credit unions said they are rotating staff in offices and branches.

The CCUA survey also asked its member credit unions about their strategies for returning to branches, with 46.5% reporting that some employees may continue to work from home while others may need to work from a branch or office.

Nearly 14% of credit unions said almost everyone will be asked to return to their workplace, while another 30% said they have no changes or will continue operating as is. Only nine percent of credit unions said they have not made any plans yet.