Measuring Your Members’ Position on the Digital Transformation Spectrum



At which end of the digital banking spectrum does your credit union reside: the pull side or the push side? The answer to this question as well as these key insights to determine your members’ in-branch and digital behavior will aid in your CU’s digital transformation.

Credit unions seeking to develop or enhance their current digital banking offerings need to have a firm understanding of both where they are on the digital banking spectrum and where their members generally lie on the digital transformation spectrum. The reality could be quite different from where the credit union is currently positioned.

At one end of the digital banking spectrum sit financial institutions that are product-centric. This group sees digital as a channel to enable access to products and services its members offer. For this group, digital banking is a pull play, where capabilities the credit union has created or enabled are made available for members to use if they so choose. There is no real desire to engage in the digital sense, so this end of the spectrum is all about access.

At the other end of the digital banking spectrum are the credit unions that are member-centric. They see digital as a combination of information (what they know about the member), location (where the member is right now), context (the likely reason the member is contacting the financial institution) and action (what the financial institution can make available to resolve a specific member’s need or want). These credit unions make their products available within their other offerings, such as car loans within auto-buying apps. For this group, digital banking is a push play, where capabilities are made available within the members’ normal life. There is a real desire to engage beyond the bounds of traditional banking. We should note, however, that as of the end of 2015, there are very few credit unions (or banks) at this end of the spectrum.

In a recent survey, we asked several key questions to help credit unions gain useful insights about their members’ in-branch and digital/online behavior.

  1. When selecting a new credit union, do you care about how close you are to a branch?

We measured the specific answers “Yes, I do the majority of banking in branch,” “Yes, I’m sure I’ll use it occasionally” and “No, if I need one I’m willing to find it.”


The black line represents the leading edge of the digital community. These are the people who are primarily interested in a digital banking environment, as compared to those who are primarily interested in a physical one. Currently, the leading edge is set at approximately 45 to 50 years of age. Prior to this age, a branch is used occasionally (at best). After this age, the branch becomes significantly more important to the member base.

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