Remaining Vital in 2013

CU report: The future is in our hands.

February 13, 2013
KEYWORDS banking , mobile , priority
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As credit union executives plan for 2013, Credit Union Magazine and Diebold Inc. surveyed them about their priorities, challenges and strategies over the next 18 months.

Despite a rapidly changing industry, one clear point emerged: Credit unions are in control of their own destinies.

1. Capitalize on growth

While nearly half of respondents (49% noted “growth” as their top priority for 2013, “cost and efficiency” ranked a close second, with two-thirds ranking it as their first or second priority. Growth is attainable, with 96% of credit unions predicting a stabilized (58%) or even growing (38%) economy in 2013.

2. Deliver on member demands

Respondents said meeting member demands will start with “mobile” in 2013, but other channel offerings will also be on the radar. Their key focus areas include:

3. Don’t give up on branches

Despite the clamor for Internet banking services, credit union executives are still getting pleas for bricks-and-mortar locations. When asked what demands credit union members have, respondents noted:

Additionally, nearly 47% of credit unions identified branch transformation/renovation as a priority for the next year, and one-third said they’re planning branch expansions.

4. Invest in channels wisely

When asked which non-branch channel offerings were most important, respondents ranked self-service technologies—including online and mobile—highest.

Nonbranch channel rankings include:

5. Eyes ahead, feet planted firm

With plans to invest primarily in new technologies, credit unions have an exciting year ahead. Credit Union Magazine regularly reviews the context in which credit union executives will set strategy in the future. It also highlights examples of how credit unions can adjust to rapid technological, regulatory and competitive changes.

Source: “Leveraging Technology to Humanize Service,” a report from Diebold.

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory ( will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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