The Future of Banking is Upon Us!

No one knew or projected that the COVID-19 pandemic would become a catalyst for technological advancement and broad acceptance of digital banking tools, but that is exactly what occurred. The necessity of limiting face-to-face contact to prevent contagion circulation created a vacuum that technology companies rushed to fill, and members sought to use. Today, most consumers use digital and mobile banking technologies as their primary method of conducting their banking activity and managing their money. A few consumers still long for the “old days” of teller lines and in-person transactions, but similar to VHS cassettes and gas station attendants that filled your car while you sat (except for residents of New Jersey), those days are not likely to return. In fact, most InTouch members rarely enter a branch these days; as a result, we are changing the way we offer services.

Exceptional personalized service is not limited to just in-person face-to-face delivery. Actually (outside of restaurant dining and hotel concierge services), most exceptional service experiences today happen through a digital channel. They are facilitated by someone going above and beyond, looking out for your interests behind the scenes. For example, you receive a reminder email or text about saving money on something you’ve planned or advising you to avoid risks at critical junctures.

It is great to announce that InTouch Credit Union is on the cusp of offering the most personalized digital services available in the market, so stay tuned. Over the upcoming months, you will be able to experience an ability to communicate with us 24/7/365, requesting answers and using services like never before with virtually all channels designed to perform when you need them, not just during 8 to 5 traditional banking hours. And to pay for these services (so you don’t have to), the Credit Union is redeploying assets from little used physical branches to deliver these enhancements to you. Unfortunately, this will cause some slight traditional banking service disruptions for some in the short-term, but we know the benefits experienced through encrypted banking technology substantially outweigh any detriment of refusing to offer digital services to the membership at large. Just as video rental stores and outlets disappeared over time, traditional banking models are experiencing the same fate (although at a slower pace).

In-person (e.g., face-to-face banking) will always stay relevant, but transacting business from the comfort of your sofa is likely preferable to driving through traffic and standing in a branch teller line (hoping you remembered to bring everything you need). We believe every member will reap the benefits from a more efficient InTouch Credit Union using technology solutions to support your financial desires, because your success is our success!

Kent Lugrand
President/CEO