American Banker (Sept. 24, 2020) - With the COVID-19 pandemic ushering in a new era of stay-at-home orders, masking up and social distancing, the question for credit unions remains: what does the future hold for branches?
How to rationalize branches – and when or if to close them – are huge decisions to make. Even with reduced foot traffic, members will be impacted when a credit union goes from, say, three branches to two.
But with members shifting from in-branch to digital transactions, many branches can no longer be financially justified. All of which can leave many members – and often a credit union’s longest-standing and most loyal members – without the live branch experience they still expect and often need.
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