X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Source: Shutterstock

In 2020, COVID-19 presented a significant challenge to delivering essential financial services to people in a wide variety of, and often volatile, economic positions. Credit unions across the United States answered that call, and by relying on their strengths, they were able to keep their focus on the member. Demonstrating a remarkable ability to stay flexible and nimble, credit unions put their communication skills, policies and disaster plans to the test. Being agile and making on-the-fly changes to core operating principles and processes allowed credit unions to succeed, and even grow, during times when the large national banks struggled to serve the most in-need members and communities.

The ability to keep doors open both figuratively, and at times literally, is a testament to the responsiveness and sound decision making of agile leaders in the credit union space. Leaders who made a habit of embracing innovation, data-driven decision making and digital transformation have paved clear pathways to success for others to follow. By embracing more efficient decision-making ­protocols and testing new technologies, credit union leaders have become pioneers – pioneers who have been able to brush off dusty reputations of conservatism, reluctance and late-to-market strategies when it came to modernization, digitalization, democratization of information and federated decision making. As the hope for more reliable operating conditions is brightened by the arrival of a vaccine, the next question becomes: Can this new agile mentality survive the return to normal?

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?

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.