Search
 
News

Credit Unions Battle Digital Dollar Dilemma

While digital banking takes center stage, CUs still consider new branch openings a worthwhile investment.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Even though the digital world is eating away at branch traffic, credit unions are plowing dollars into branch construction anyway, according to a study by SNL Financial, leaving many credit union execs debating over the highest and best use of their expansion capital.

Branch transaction activity is roughly half what it was in 1992, according to the FDIC, and check use is barely a third of what it was in 2003. But SNL found that the total number of credit union branches rose for a second consecutive year; as of July 30, there were 27 more opened than closed in the United States. That may seem small, but it’s a big difference from the 241 net branches lost in 2012 and 2013.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Tina Orem

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.