NAFCU’s recent Economic & CU Monitor report includes insights into how the pandemic has affected credit unions’ branch operations, as well as member trends related to using online and mobile banking options. Compared to a 2013 NAFCU survey that revealed only 18{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} of credit union members used mobile devices to access their accounts, respondents in the most recent survey said 50{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} of members use their CU’s mobile app.

On the branch side of member access, the survey revealed that:

  • 39{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} of survey CU executive respondents said they plan to expand their branch network over the next two years
  • 43{91edff4ab0179c213d4d62ccb73735ad51d636906a6f58336791bd911b76df7b} plan to maintain their current setup

 Key Takeaway: Credit unions across the board remain bullish on providing face to face member service in their branch networks.