Just a couple of years ago, it was enough for credit unions to offer generic mobile banking programs and multiple delivery channels. Today, not so much. Competition comes from all sides – banks with deep pockets, big retailers, digital lenders and fintech startups. Convenience services and mobile apps have become commoditized, so success depends on providing member experiences that stand out from the pack.

But it's challenging. With digital banking taking center stage, fewer members visit branches or call their account reps. It's harder to get to know new members or stay up with the interests of those who joined your credit union years ago. This makes it all the more important to make every member experience satisfying and personal by taking advantage of available data, a quality data-mining program and a robust CRM. Members expect easy access and a full-service PFI. What they want is a credit union experience that identifies and relates to their specific needs.

Must We Be Mind Readers, Too?