Ask any credit union CEO when he or she last recalled a day without disruption in the industry and you will wait a while for an answer. Disruption has always been with us – branch networks, online banking, mobile payments, Bitcoin … and the list will go on. While changes compel us to continually renew our business models, nearly all modifications benefit our members. As members profit from change, they expect a new level of excellence sooner than the last. Disruption is here to stay.

How are credit unions leading in an industry that requests day-to-day perspectives on existing business models? Below are summaries of practical and proven ideas where dozens of credit unions offer insights to help your credit union make disruption an anticipated element of everyday business. These credit unions discovered that the ever-changing nature of our business, and members' expectations, is best met with engagement, streamlining and exploration.

Engagement With Your Members

• Listening to members proves valuable. Rather than waiting for feedback, appeal for input through surveys, focus groups and business development activities. Partnership in mind, recognize that members hold the key to identifying how to advance your products, services, technologies and brand. When members speak, credit unions should listen – and act.
• Partner in your community to help guide change. SEG credit unions can look to SEG communities and seek ways that cross-collaboration helps SEGs and their credit unions succeed in interrelated ventures. Community charters can look for ways to bring elements of a community together – meeting space, networking and introduction to other cooperatives. In short, seek ways to share value and succeed with distinct community partners.
• What's disruption without mention of technology? Ensure that all processing partners (core, card, mobile) are equally focused on the future. How are these partners planning for and adjusting their products, services and systems to allow your credit union to provide convenient, seamless and meaningful experiences in financial services? If your members are telling you what they need (see above), are your partners ready to provide?