The Branch of 2016: Going Beyond Digital to Build Relationships and Communities

Branches have been the foundation of the credit union service proposition since the beginning. While many simple transactions formerly handled by tellers are migrating to digital channels, that doesn’t mean branches are becoming a thing of the past. In fact, branches continue to deliver unique value to your members and, when managed well, remain one of your most strategic assets.

Branches By the Numbers

According to 2015 FDIC research recently reported by the Financial Brand, financial institutions continue to operate more than 94,000 branches nationwide today. A recent Bankrate poll determined that 45% of Americans had visited a branch within 30 days of being surveyed. And Alite Group research also reported in the Financial Brand finds that U.S. consumers open 28.3 million checking accounts in person annually, but only 7.2 million via a financial institution’s website and less than two million using a smart device.