Search
 

CU Tech Hub

Expert Opinion

2023: The Year to Focus on ROI Drivers & Tech Partnerships

Despite widespread financial concern, CUs are strongly positioned to provide a high level of support for their members.

By Larry Nichols | January 13, 2023 at 09:00 AM
Year 2023 outlook, business opportunity or new challenge ahead, vision to make decision or move forward, plan and perspective concept, confidence businessman look through telescope on year 2023. Source: AdobeStock.

As interest rates remain the highest they’ve been in 15 years and the inflation rate for goods and services continues to soar, many members have entered into the new year with anxiety around their finances. Such times of unease are often when members need their credit unions the most, and credit unions have proven time and again that they’ll do whatever it takes to support their communities and reinforce the credit union philosophy of “not for profit, not for charity, but for service.” However, credit unions themselves are also challenged by the economic environment and thinning margins.

In order to provide the needed level of personal, comprehensive support and service members need, more credit unions this year will rely on technology as well as fintech partners to help boost efficiencies and enhance member service. There are several areas that will emerge as priorities this year.

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?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

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 © 2023 ALM Global, LLC. All Rights Reserved.