As a credit union leader, it can be easy to become complacent when things are going ok. We’re comfortable. We know what to expect.
The problem with the known is that it is only the basis for moving our credit unions forward. The known has set a foundation for your next iteration – the next innovation.
Innovation can be a scary term. It connotes change and risk. On the other hand, how does the word stagnant make you feel? Not so good either.
Let’s break down innovation for a second.
First, being innovative does not mean your credit union has to be bleeding edge. Whatever the issue is, whether human resources or technology, the change just needs to be innovative in your credit union’s context. More of a shift really.
Innovation is important for your credit union’s future, but we must be careful not to innovate for innovation’s sake. Innovation is creativity that creates value.
Consider your credit union’s website for example. We know a lot of credit unions do not like their current websites. It has bad links or old information that has members and potential members rage-clicking away, or the backend is clunky for your team to make changes, or worse, updating is held up by your contracted website developers.
Here are three simple steps to help you get of your own way when it comes to your credit union website:
- Have a clear business objective. Once you know what that is, it will return that value through innovating your website. It also serves as a guidepost for your credit union website developer’s work. Whether in-house or outsourced, everyone will be heading in the same direction to make the process go more smoothly. Pro Tip: Trust the process. You know your credit union best. Likewise, respect your developer’s process because they know website development best.
- Focus on member experience. Don’t cheap out to save a few dollars. The coveted Gen Z and millennial potential members have strong tendencies to head to large banks and digital banks, according to a recent BAI report. Having a website that’s dialed in on their needs and expectations is paramount for the future health of your credit union.
- Partner with the right credit union website development agency. During your research process, of course, you want to find a company that has the requisite skill set, but really focus on how they are treating you and your credit union. Are they asking a lot of questions to get to know your credit union and your team, or are they more focused on impressing you by telling you more about themselves? You’ll be highly engaged with your web development agency for likely several months, longer if you opt for ongoing support, so determine whether you can work well with the agency team members. Bonus: Find a web developer that specializes in credit unions!
Whether your credit union is looking to grow deposits or add members, a poor website experience – for your team and your members – is not going to help you meet your objectives. Get very clear on those goals to make your credit union website development process go smoothly and achieve the outcomes you desire. Updating your website is a small step your credit union can take toward innovating for the next generation of members. We all just need to get out of our own way sometimes. When you’re ready, get uncommn.