As credit unions look to increase operational efficiencies and ensure the outstanding member service they are known for, many have opted for implementing new technologies to increasingly digitize member interactions to simplify self-service, and for many, leave the value of branches in question.

In fact, branch closures have inundated the news these past few years; much of this could be related to acquisitions and overlapping coverage. With thousands closing or soon-to-be closed, the combination – self-service, digital technology and increased branch closures – has prompted the question, are branches becoming obsolete? The short answer is no.

Branches Drop Like Flies, Yet Consumers Value Human Interaction