A study from US Bank -- yes, a bank, I know -- showed that consumers still prefer branches. Wait, what? Aren't branches supposed to be dead -- especially in our uber-mobile world? Well, not so fast because 80% of the study's respondents say they prefer to work with a live human being instead of a virtual one.
We invited one our industry's foremost branch experts CO-OP Financial Services Sarah Canepa Bang (President of CO-OP Share Branching) on the show to find out what is going on here. Sarah is well aware of this study and many others (especially CO-OP's) and was pleased to concur with those results. In fact, she took it a step further, saying even mobile Millennials are using branches in bigger numbers than ever before.
Naturally, we asked why? We also addressed how branches are evolving to remain relevant and effective. And, lastly, we inquired how our industry's truly unique business model shared branching plays a significant role in helping branches remain a vital part of credit unions' business plans.
Let us know what you're seeing with your branches, as well. Interesting to see where this trend heads.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.