Over the past couple of months I’ve been following some Internet credit union forums—notably via LinkedIn—that have been spreading gloom and doom predictions of the eventual and inevitable demise of the CU branch. Some participants have even suggested that the CU branch would go the way of the Blockbuster Retail Store: Nowhere. They have suggested that brick and mortar branch operations are expensive, redundant and of little use to members.
But I have my doubts. Will smart phones ever entirely replace branch operations? Will credit unions inevitably become more like this branchless FI?
I certainly hope not! I love my branch. It is convenient, friendly and has always been there to provide the help and support I need. Plus, they know my name and face because I get to deal with real people who are an important part of the community where I live and work; we’re neighbors.
