Credit union membership today is undoubtedly diversifying. While this is a welcomed evolution, it requires supporting a growing number of diverse member expectations.

Continuously meeting the needs of existing members is paramount, but credit unions must also work to better engage younger, more progressive prospective members. And following last year's Bank Transfer Day, there is now a need to satisfy a greater number of former bank customers that made the switch, highlighting the member service that has always separated credit unions from other financial institutions.

Beyond adding new products and services, credit unions should also consider the channel convergence already in process for promotions, cross selling and service functionality. Channel options serve existing and prospective members while enabling credit unions to improve efficiencies and recognize new operational cost savings.