American Banker ran an article a couple of weeks ago about the number of branch closings in first quarter 2015. According to the pub, PNC took top honors with 38 branches closed followed closely by Regions Financial with 32 and JPMorgan Chase with 31.
The branch model is changing, a PNC spokeswoman told American Banker, and that is no doubt true. There has been much attention given to what the branch of the future looks likes, accomplishes, and operates. It’s this last piece — the future of operations — that is relevant to this week’s focus of CreditUnions.com. Because if the face of financial services is changing, then so too must the institutions that provide them. And credit unions are introducing new roles and organizational structures today to prepare for tomorrow.
In the Graphic Of The Week, analyst Janet Lee breaks down four ways credit unions are thinking differently about staffing and org charts. It’s a fresh perspective on the foundation of any institution. Check out the infographic today.
The traditional C-suite contains roles that are a crucial foundation to any organization. However, there are credit unions across the country that are shaking up custom and introducing roles that better align with their culture and goals. In The Roles Less Traveled, Callahan managing editor Aaron Pugh takes a look at two such institutions and highlights ways others can learn from their successes.
In this week’s Q&A, Judy Walz of VyStar Credit Union discusses her role as senior vice president of marketing and planning. Walz oversees marketing research, market research, member information and analysis, advertising, public relations, branch merchandising, member communications, and strategic planning. It’s a lot to take on, but Walz says the marketing and planning responsibilities are a perfect pairing. Read more today.
Finally, in From IT To “We”-T, Callahan partner and CU Student Choice president Scott Patterson discusses a topic he’s heard a lot about recently from credit union executives — the creation of technology teams without IT staff.
These digital teams are laser-focused on developing the member experience and they don’t want to hear about technical limitations. Their intent is to return the horse to the front of the cart. But to succeed, credit unions need to not only shed the silos and tame the turf wars among different technology factions of their organization but also align these individuals in support of a common goal: the member experience.
This idea itself isn’t new. And this week Patterson talks about some of the tools he’s seen credit union use to weigh progress. Read more about them.
It's a week all about challenging the status quo, which is what credit unions are good at.