A lot has changed over the past year. We were already living in a digital age, but the COVID-19 pandemic has issued us into a new era where online business is not only popular—it is crucial. In fact, nearly 51% of small businesses have increased online interactions with their customers and about 36% are doing sales online, according to e-commerce support platform Oberlo.
Consumer habits and the global economy are changing, which means that the financial industry will be majorly affected—and credit unions in particular. As member-owned, non-profit organizations, credit unions will need to adapt to the times if they hope to compete with large banks and financial institutions.
Here are seven strategies that smart credit unions should incorporate if they want to stay relevant in 2021 and engage their target customer base.
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