No one needs convincing today of the urgency to digitally transform their credit union. Nine out of ten financial institutions have a digital transformation strategy in place or in development, according to a BDO survey. But having a strategy is one thing: delivering on that strategy is what matters most.
That is why digital partnerships are so vital today. As THINK 19 speaker Bradley Leimer recently published, “Digital partnerships are critical for banks and credit unions to deliver differentiated value to their markets. Your digital partner’s product roadmap is your roadmap. Own it as much as they do and help shape it.”
As your digital delivery partner, CO-OP is developing an integrated payments, networks and member solutions ecosystem, all built through the lens of our credit unions and their members. Our job is to provide streamlined access to the best and broadest solutions set in the industry. Our newest solutions include innovations to the ATM channel with several member experience enhancements like Cardless Cash access, cardholder preferences and multi-currency support now available. In addition we’re delivering on digital pays like FitBit and Garmin as well as Zelle enablement. At the same time, our SmartGrowth team has been busy advising credit unions on strategies to grow their portfolio – with Launch FCU recently seeing double digit growth following a Smart Growth engagement.
We’re really looking forward to presenting a deeper dive into our solutions at GAC, March 10-12 in Washington D.C. If you are planning to attend, be sure to stop by our booth (#303) or networking lounge to chat with our experts. We will be giving live demos of many of our products including MyCO-OP and Springboard, as well as offering a chance to meet 1:1 with some of our experts on topics like digital strategy and payments portfolio growth.
Leveraging Digital to Deliver Better Member Service
You often hear “integration is innovation” coming from CO-OP because it speaks to how having streamlined access to all of your tools, data, and applications can empower you to operate more efficiently. Take, for example, MyCO-OP. As I’ve mentioned previously, MyCO-OP is a powerful gateway to all CO-OP digital solutions. And it is helping to generate time savings and added security that will lead to a better member experience.
Jenny Hamilton, a Beta tester for MyCO-OP at Tarrant County’s Credit Union pointed out how just simplifying the process of accessing her different applications has helped her and her team save hours and provide faster service to members. “Before implementing MyCO-OP, I had to manage 10 different applications and logins separately,” she said. “Now I just log into the system once, and MyCO-OP stays running in the background all day long. It is much more efficient and much easier to use.”
It is the culmination of many small innovations like this that will make all the difference in staying top-of-mind and top-of-wallet with our members.
Welcome, CFO David Becker
In addition to building out our solutions, we’re continuing to grow our Executive Management Team as well. To that end, I’d like to extend a warm welcome to our new Chief Financial Officer, David Becker. David comes to us from one of our close partners, Alkami Technology, a cloud-based provider of online and mobile banking services, where he served as CFO from 2014 to 2019.
Over the past several years, CO-OP and Alkami have worked together to offer credit unions and their members a fully-integrated online and mobile banking bill pay solution. David’s leadership experience with Alkami means he really knows both our company and industry well – and understands what it takes for credit unions to champion change as they digitally transform.
Continuing the Conversation at THINK 19
With THINK 19 only a few months away, we’re gearing up to reveal the full schedule of presentations, breakout sessions and events for what will be an exciting and transformative week. We’re also pleased to once again invite young credit union professionals ages 35 (or 35 at heart) and younger to apply to “crash” THINK 19 and enjoy complimentary registration and lodging at this year’s conference. If you know anyone at your organization that might be interested, please encourage them to apply by Friday, March 15.
I hope to see you at GAC or THINK 19 and look forward to keeping the momentum going strong throughout the year.
President & Chief Executive Officer
CO-OP Financial Services