Take a break from reading and be on the lookout in 2024 for inspiration through imagery. That’s exactly what our new “Get Inspired” series aims to do. First up, branching.
Retail executives from leading credit unions across the United States gathered recently for a Callahan Roundtable. As always, attendees directed the conversation, and these executives dedicated a significant portion of their time together to branching, in particular how to design a branch experience that supports self-service yet fosters a welcoming sense of support for members and allows team members to focus on high-touch financial wellbeing conversations.
The following four credit unions each tell a different tale of member experience through their branches. From modern architecture to intimate community hubs, these cooperatives are creating spaces that go beyond traditional banking.
Interra Credit Union: Mission In The Brick-And-Mortar
“Interra opened its newest stand-alone branch in LaGrange, IN, in March of 2021,” says Liz Borntager, vice president of retail delivery at Interra Credit Union ($1.7B, Goshen, IN). “We include our branding within the building, including our mission statement, our vision statement, and even an illustration created by one of our marketing team members. This branch has been extremely successful in providing hospitality in this new community. It already has $15 million in new loan dollars and $6.7 million in share balances, all with a branch overall satisfaction score of 9.6!”
Spero Financial: The Little Neighborhood Gem
“This branch is a perfect example of how a physical location is still relevant,” says Leigh Wright, vice president of member services at Spero Financial Federal Credit Union ($706.3M, Greenville, SC). “It provides a neighborhood presence but embraces a smaller physical layout, which reduces overhead costs. This branch has no physical drive-thru because our members are adopting ITMs for routine teller transactions, which helps our Five Forks member service advisor team members — who are all Certified Credit Union Financial Counselors (CCUFC) — focus on interactions to deepen member relationships. The details of the floor plan even speak to this as we strategically placed wayfinding in the floor to guide members to the different stations for the complete branch transformation experience.
INOVA Credit Union: Self-Service Innovation
“The Mishawaka, IN, location is the third of this kind for us as we undergo an exciting digital transformation for our branches,” says Kerie Sekal, vice president of marketing and member engagement at INOVA Federal Credit Union ($701.1M, Elkhart, IN). “We’re leveraging innovative technologies and enhancing the member experience by deploying self-service kiosks, streamlining processes, and offering more accessible financial services. Alongside these advancements, we recently implemented a new cutting-edge mobile banking solution, which affords us access to more advanced data analytics. INOVA Federal is ahead of schedule in our long-term strategic growth phase, and we are committed to revolutionizing our operations to meet the evolving needs of our members in this digital age.”
LGE Community: New Market, New Vibe
“LGE has an established footprint in the Greater North Fulton community, but Sandy Springs is a new market for us,” says Becca Duvall, communications manager at LGE Community Credit Union ($2.0B, Atlanta, GA). “We were excited to introduce a new branch design in this area. This branch does not have traditional teller lines. Instead, it features a warm, open concept where members can easily flow throughout the branch — being greeted by a friendly face at check in, stopping by the coffee bar, or being assisted by a financial solutions specialist in one of our private banking offices. The branch’s design features brand elements like LGE’s inviting color palette, signature patterns, and our mascot, Einstein.”
Make It Work … For You
Now that you’ve seen how other credit unions are making the most of their brick-and-mortar investment, how can you put your new insights into practice? Start by asking yourself the following questions:
- How does your credit union showcase its mission at its branches? Would a member know what is important to the credit union just by visiting the branch?
- Does your credit union have a neighborhood presence? Is that a focus? How might you increase that?
- In what ways are you infusing self-service into your branches? Do self-service options for smaller transactions allow for deeper conversations with members? If not, how might you rethink your branch strategy to encourage those conversations?
- To teller line or not to teller line, that is the question.
Stay Informed, Stay Inspired
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