Adapting to a Digital Self-Service Model
Credit union members are increasingly demanding more online interaction from their institutions. The request is forcing credit unions to adjust websites and self-service portals to accommodate members.
Initially, many institutions felt that only a small subset of their member base would actually use these portals, but the population of actual users is increasing rapidly. According to the American Bankers Association, in 2007 only 13% of bank customers age 55 and older said they preferred online banking over other channels. By August 2011, that percentage had risen to 56%. Consumers of all ages are going online and utilizing services like online bill pay, e-statements and even online account opening.