Dallas, TX, Sep 12, 2019— Banks and credit unions might have similar levels of future-readiness, but their strategic priorities are very different based on the fundamental differences in the way they operate. Banks tend to concentrate on commercial deposits and loans while credit unions focus more on personal banking like auto loans and checking accounts. On The Mark Strategies has rolled out the top strategic priorities credit unions are committing to in 2019/2020.



Credit unions are focusing much more on a digital presence: recognizing that consumers are becoming more self-reliant with their banking and many prefer to operate online. Still, many credit unions are simply budgeting for upgrades on existing technology. Instead, also implementing some new technologies like artificial intelligence and robotics could greatly improve a credit union’s consistency and consumer experience.



Because credit unions rely mostly on individual consumers instead of big business, growing deposits needs to be a priority. Developing a coherent, easy-to-useand consistent digital banking platform is crucial for credit unions to keep up with their competitors. A big factor here: including easy access to help and accurate, consistent information for consumers across all touch points, including online.



Another change for credit unions’ strategic planning is a need to evaluate their account and teller systems. Sometimes these systems are too spread out and some analysis may identify ways to consolidate and streamline, or at least coordinate the different systems more effectively and efficiently to improve the overall consumer experience across all platforms.



The final priority is marketing. Credit unions should be creating and implementing tools to assess weaknesses and effectiveness of marketing strategies. Analytics and technology are two areas where credit unions may invest in 2019/2020.



These types of evaluations, modifications, and additions to current credit union systems and approaches can contribute to renewed consumer growth and retention. Selecting appropriate strategic priorities and developing tools for implementation are two ways credit unions can hope to increase their success and reach their targets.



About On The Mark Strategies



On The Mark Strategies is a team of trailblazers guiding financial institutions in the areas of speaking, branding, strategic planning and marketing services. Technically, they are a consulting firm, but their clients prefer to think of them as trail guides. Their experience as former credit union employees, combined with the customized programs they create in-house, enable them to lead financial institutions through the great unknown. On The Mark Strategies stands ready to guide financial institutions looking to chart a new course or navigating their current path.