Musings from the CU Suite

Written by Anthony Demangone

I remember paydays growing up. My father would go to the credit union and stand in line to get money. As did everyone else. 

Friction. 

The ATM reduced that friction. 

I remember working in the credit union on payday. I'd personally get more than 100 calls, a super majority of which consisted of the following question: What's my balance? 

Friction. 

Online banking reduced that friction. 

Your Aunt Edith sent you a check for $20. But you don't live or work near a branch. Friction. Reduced by remote deposit capture. 

What's the next big thing? 

I'm not sure.

But look for the friction. 

That's where the gold is. 

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I'll personally deliver a webcast in November on fiduciary duties and BSA issues - specifically designed for credit union volunteers. It will help your credit union meet that annual training requirement for BSA. And I've delivered this talk to a number of boards. I'll keep it short, sweet, entertaining and informative. At least that's the goal.