In a groundbreaking move that signals a paradigm shift in member engagement, BCU, under the leadership of Chief Retail Officer Carey Price and Chief Information Officer Jeff Johnson, is set to introduce video-only branches. In a recent CUBroadcast interview, Price and Johnson delved into the rationale behind this innovative approach, shedding light on its mechanics, challenges, objectives, and actionable insights for fellow credit unions.

Why BCU switched to Video-Only

The decision to embrace video as the primary medium for member interactions underscores BCU’s commitment to leveraging cutting-edge technology to enhance service delivery. By bridging the gap between physical and digital channels, video-only branches promise to revolutionize the traditional banking experience, offering members unparalleled convenience and accessibility.

So, how exactly will video-only branches function? Price and Johnson elucidated on the operational intricacies, detailing a seamless process wherein members can connect with expert staff remotely via high-definition video conferencing. This virtual interface not only facilitates personalized interactions but also transcends geographical limitations, empowering members to access specialized services regardless of their proximity to a physical branch.

Risk and Reward of Video-Only

Of course, pioneering such a transformative initiative hasn’t been without its challenges. Price and Johnson candidly discussed the hurdles encountered along the way, from technological integration to staff training. However, their unwavering dedication to enhancing member experience has propelled BCU to surmount these obstacles, paving the way for a new era of member-centric banking.

In outlining the goals for their video-only branches, Price and Johnson emphasized a dual focus on member satisfaction and operational efficiency. By leveraging video technology to streamline service delivery, BCU aims to optimize staff utilization, reduce branch costs, and ultimately elevate the overall banking experience for its members.\

Should Credit Unions make the switch to Video-Only?

For credit unions contemplating a similar leap into the realm of video banking, Price and Johnson offer invaluable advice gleaned from their own journey. Emphasizing the importance of strategic planning and stakeholder buy-in, they underscored the need for a cohesive vision that aligns with the credit union’s overarching objectives. Moreover, they highlighted the significance of investing in robust technological infrastructure and comprehensive staff training to ensure seamless implementation and sustained success.

While video-only branches may represent a bold departure from traditional banking models, they embody the spirit of innovation and adaptation that defines the credit union movement. As credit unions across the industry increasingly recognize the transformative potential of video technology, the stage is set for a renaissance in member service, where personalized engagement knows no bounds.

Key Takeaway:

The advent of Better Lobby’s Video Meeting Queue Module (VMQ) heralds a new era in member service, extending the reach of credit union branches beyond physical boundaries. By leveraging VMQ, credit unions can seamlessly connect members with expert staff via video conferencing, fostering personalized interactions and optimizing operational efficiency.

A photo of two people having a video meeting on a computer. Better Branches offers a video meeting module called Flexible Branches Video, allowing Credit Unions to talk to their members.