Credit unions are built on a foundation of “people helping people.” With this foundation being one of the biggest competitive advantages for a credit union, members feel like they are working with a trustworthy neighbor or family member to gain assistance with their finances. Credit unions make financial education a fundamental element in their proceedings. This, along with the fact that credit unions are non-profit, helps build trust between members and the business. Members know the people behind the desk are genuine in their desire to help, and any profit they make will come back to benefit members through lower rates.
Another major competitive advantage for credit unions is convenience, which is often supported by the latest technology. This is now often achieved through customized micro branch design. Which presents seemingly contrasting benefits: how can you have a trusting and friendly relationship with your neighbor if you aren’t able to interact with them in person?
Member service doesn’t start and end with face to face contact. There are many other ways you can fully meet your members’ needs through the latest amenities provided in thoughtful micro branch design. Let’s break this concept down…
Members need:
There is no doubt that these needs can be met with a credit union micro branch. When designed in a way that best fits the brand and community, design can even enhance member loyalty and trust.
First things first, your branch must be designed to include amenities, visual elements and technology that meets members’ needs.
Micro branch or “tellerless” design does not mean compromising on personalized help. Members don’t have to worry about being left high and dry thanks to interactive teller machines (ITMs). ITMs are similar to Smart ATMs, except they have a representative available on video chat to provide assistance - just like an in-person teller. These machines are secure and allow you to make deposits, withdrawals, transfers, loan payments, cash checks and various other operations. So technically these branches aren’t tellerless, the tellers are just connecting remotely.