Seniors Demand … Digital Banking

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Seven months into the COVID-19 pandemic, we know a lot more about the virus we’re fighting. We know this is going to be a long fight, and that life has changed dramatically and is unlikely to return to the way it was. Even as lockdown measures are relaxing across the country, seniors, who are at higher risk for serious illness or death from the disease, are not rushing out into crowded places any time soon.

This means that the traditionally less digital demographic not only needs access to digital banking but, as we’ll see, is quite ready for it – both for its convenience and safety in today’s environment. With potentially greater wealth and a greater willingness to try out new technology than ever before, credit unions have a unique opportunity and even obligation to connect their oldest members. Let’s look at some of the challenges and opportunities associated with online banking for seniors.