How Credit Unions Lead The Future of Banking

Cyndie Martini

When consumers decide to support a brand or business, they will gravitate toward the option that they share values with. Today, the majority of consumers care about authenticity, supporting locally, and investing in companies that engage in building their communities. Consumers are looking for a genuine connection, especially Millennial and Gen Z consumers who value socially conscious approaches to business. This is even more apparent with advancing technology as they are also looking for the most efficient and convenient experiences. 
 
In the financial industry, customers have transitioned into primarily using mobile banking, cash applications like Venmo, and contactless payment methods. As the industry shifts into a much more digital space, credit unions have proven their ability to stay up-to-date with the latest technological advances and consumer preferences while maintaining a legacy of positive relationships, customer service, and community care.
 
Through the years, credit unions have successfully kept up with traditional banks while setting themselves apart because of their unique standing within their local communities. Credit unions are better positioned for success because they are member-owned and focus on financial wellness and community betterment.
 
As an active part of the communities they serve, employees maintain great trust with their members. Members have personal relationships with their credit unions. It’s a place where they find direct support with personalized financial advice and service. This connection gives credit unions the advantage over traditional banks because credit unions are able to quickly access their members’ accounts, are able to recognize their members’ needs, and are versatile enough to adjust accordingly.
 
Credit unions’ relationship building doesn't end there. Credit unions engage with their broader audience by partnering with local businesses, local education, local homebuyers, and local organizations, as well as acting as their funder. Members can physically see the ways their money is directly benefiting the places they use and live in.
 
Financial support can be accessible and community-based because of credit unions. Credit unions are also praised for their ability to provide personalized customer service, lower fees, better interest rates, and services that provide education on financial literacy. 
 
Credit unions are capable of lifting and empowering entire communities by promoting financial wellness and community engagement. And these strong and distinct values are what consumers are looking for in their business interactions today and even more into the future as brands follow trends to become more compassionate. Credit unions will already be at the forefront of this movement to lean into building personal connections.
 
About Author: Cyndie Martini is President and CEO of Member Access Processing (MAP), a payments company that helps credit unions build and manage credit card and debit card programs. Her company, MAP, is celebrating its 25th anniversary of providing innovative payment solutions for credit unions. Cyndie has led the company's evolvement by responding timely to the changing needs of the banking industry through consistently integrating new solutions into its service offerings. She is a recognized leader and pioneer in the Electronic Fund Transfer (EFT) industry with a depth of experience in growing profitable card portfolios for financial institutions. Martini has over 30 years of marketing, sales, strategic planning, advertising, and payment technology experience and is recognized as an expert in the field of card and network payment systems. Throughout her career, Martini has been an advocate for credit unions, having put her experience to work helping member-based cooperative financial institutions grow and succeed.

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