By Sharon Sweda
Community Choice Credit Union in Southeastern Michigan understands the impact that progressive change can bring to an organization. Embracing change can be exciting and Phil Cooper, COO of Community Choice Credit Union for the past eleven years, is banking on big change to excite members and differentiate community from big bank competition.
The credit union that was formed in 1935 and housed in its founders’ home for 25 years, is changing from the inside out. Once a credit union that had been expanding and growing through the addition of branch offices and mergers, it is now amidst its most radical change of all without extending its borders.
“We are never going to compete on the same level as a large national bank,” explains Cooper. “Our goal is to exceed in the areas where we are unique.”
The banking industry has been in transition over the past couple decades. Caught at the crossroad of technology and tradition, banking has had to invest heavily into developing secure online banking resources with fancy apps and mobile solutions. Competition elevated the technology platform and now, Gen X and Gen Y adaptation is influencing additional change and Community Choice is investing heavily into that shift.
“We had to take a close look at our former bricks and mortar model to evaluate how we could become more effective,” states the COO. “The new footprint is smaller. We realize that we need half the square footage of our previous model and a greater emphasis on becoming more relevant in terms of what the reduced branch foot traffic is seeking.”