July 23, 2007


  • Great article Denise. Just looking at last night''s CNN democratic debate utilizing YouTube questioners, it just confirms the legitimization and importance of the web channel. Do you think a standard format debate will ever be enough in the future? We should take note. Credit unions now have to take the web very seriously. In the beginning it made sense for everyone to start slow as we''re all highly risk-adverse. The web needed to prove itself. It has! Now is the time for us to reevaluate our online posture and step up. The rules have changed. Everyone is talking about Web 2 (social networking, blogging, etc.). That conversation will probably shift to Web 3+ (or whatever) as this game continues to evolve, at an incredible rate. What no one really wants to talk about is that the majority of us are still fielding very Web 1ish - remedial - old - websites. A credit union''s online brand IS the online interactive experience you deliver. If you deliver the goods you get the prize. If you fail, members go elsewhere, instantly. We have to change if we expect to survive and compete against the eTrade''s and ING''s of the world.
    Dave Mayette
  • I definitely agree that credit unions need to place more focus on their websites. It is surprising to me that many credit unions are using websites that look like they were built 5+ years ago or cost under $1,000. Not only does it increase member usage, it also provides a first look at your credit union from potential members. You can get a sense of quality just from the appearance of a site representing nearly any company. I belong to 3 credit unions and have yet to step foot in a single branch in over 5 years. Their websites are my means of conducting my finances. If they arent representing all their services online, well, I wouldn''t know what I''m missing. Why spend hundreds of thousands or more on branches and only spend $2,000 on the online branch most your members are probably visiting weekly if not daily?