Why we’re betting big on innovation: A challenge to the credit union industry

Let’s cut to the chase: the credit union movement has reached a pivotal moment. The world around us is changing at breakneck speed, and we have a choice. We can either adapt and thrive or cling to the status quo and risk obsolescence.

In an industry which often attempts to ‘play it safe’, we’re here to call the facts as we see them – as uncomfortable as that might be. For instance, one fact is that over a trillion dollars has been redirected from deposit accounts into a completely new asset class over the past few years. Another fact is that over 20% of the population in the U.S. (higher among the younger generations) has already invested in this asset class. Perhaps we’re not ‘betting big’ at all, but simply ensuring our partners can uphold their fiduciary duties to their communities (preventing them from suffering the fate of the record store owner at the advent of the iPod!).

Our commitment to bold moves

Innovation isn’t a buzzword; it’s a necessity. The financial landscape is evolving, and members expect more from their financial institutions. They want frictionless digital experiences, personalized services, and solutions that make their lives easier while protecting the fruits of their labor. If we don’t deliver, someone else will. Someone else already is. Innovation is more than just tweaking a product or service here and there, adding another bolt-on vendor ‘solution’, or playing the pricing game. Innovation is intentionally looking at your entire operation through a different lens.

At DaLand CUSO, we’ve always been about making bold moves. Our recent collaboration with the forward-thinking leadership team at St. Cloud Financial Credit Union is a testament to this. They’re not just talking about innovation; they’re investing in it. We’re developing cutting-edge solutions that address real-world challenges, from digital asset management to streamlined member services, and the credit union is better for it.