Yes, We Really do Listen to You!
After the COVID-19 pandemic ended, we sent our annual membership service survey that included a new, fresh, very singular but particularly important question – “Now that the COVID-19 pandemic is behind and with branch lobbies operating normally, do you plan to increase your in-person banking?” Surprisingly, 68.1% of responding members stated, “Not at all” and 16.8% shared “Yes, a small amount,” which meant you’ve learned to conduct most of your transactions using digital channels and online platforms.
We asked again, slightly differently, about returning to in-person branch services via our 2023 survey. Once again, 44.5% shared they never plan to return to in-person banking with a smaller 34% stating they would visit their local branch “less than once a month.”
Lastly, this year’s survey asked the same question with a similar result (Never - 42.3% and Less than once a month - 35.2%). This was an important repeat finding. Branch operations are expensive, and it doesn’t seem financially pragmatic to continue to offer more and more in-person options, ESPECIALLY when most members are demanding more online security to protect your personal information, and better safeguards from financial fraud and cybercrime. We heard you loud and clear!
As a result, in April 2024 we introduced new mobile and online banking systems to make doing business with us easier and more intuitive. In December 2024, we introduced a new online lending platform (with multiple layers of behind-the-scenes security) that make it easier to not only apply for a loan but receive an instant decision AND potential funding within minutes, instead of days. We also launched a new online account opening process (with multiple layers of behind-the-scenes security) that will enable you to open savings, checking, money fund, and/or certificate accounts with several different funding options in a manner we believe you will find quick, comfortable and self-assuring. And in 2025, we are revamping our telephony and contact center systems to grant you 24/7/365 real-time access to your money and financial information in a way to help you be more financially successful, regardless of whether you’re just starting out or you’re close to achieving your financial dreams.
Rest assured, we will always operate branches in Texas, Michigan, and Nevada with accessible locations for you to seek out in-person answers and consult with real financial professionals. However, we also recognize the importance of your communicated desire for more robust, secure digital delivery methods for financial services that better align with your life’s daily schedule. We live in a 24/7/365 world and 9-to-5 banking no longer adequately works for most members. In making these changes, we’ll deliver the best of both worlds at a price you should find competitive and pleasing!
Kent Lugrand
President/CEO