From the editor
This month, we mark the grim anniversary of the COVID-19 outbreak being declared a pandemic.
Our pandemic year has brought many changes in the way we live and work. We wear masks to the office (if we even go to work outside of our homes). We Zoom instead of meet. We teach algebra (or try to!) in between meetings.
We’ve had to find ways to make work what we thought could never possibly work! For example, many believed that having credit union staff telecommute just couldn’t be successful. But this year has shown that credit unions can operate very, very well when staff members are working remotely. And now we are better equipped to work through the next natural disaster or even just a snowstorm.
Before 2020, was anyone looking to do a remote core conversion? It just didn’t seem feasible. But the credit union and vendor leaders interviewed for our cover story share how they successfully changed core systems remotely during the pandemic year—and why they would do it that way again! Read more in “Lessons Learned From Remote Core Conversions.”
In financial services, we’ve been talking about digital transformation for years, but 2020 seems to have been the year to turn the talk into reality.
“While credit unions were already moving to a digital-first experience, the pandemic forced a lot of members to figure out how to self-serve—and many will continue to use this option,” says Jedd Taylor Sr., director/digital strategy at CUES Supplier member Franklin Madison, Franklin, Tennessee. “Credit unions that can deliver a quality, convenient digital experience—as well as help members plan for the future and manage life’s uncertainties—will emerge as leaders.”
Taylor is quoted in “Digital Delivery and Marketing, 2021 Edition.” The article explores the weaknesses that the pandemic exposed and how nimble credit unions responded with new marketing and service opportunities. Read more about how credit unions are shifting their digital marketing strategies this year.
Did your asset/liability committee have a wild ride in 2020? In “ALM Rebalancing Act,” we look at how CFOs and ALCOs are tackling distorted balance sheets in 2021 after surviving the knocks of 2020.
Finally, we have all been forced to think about our mental health—and the health of our teams. Doing so is incredibly important. I’m glad that the content we’ve created about self-care has been some of the most popular on CUmanagement.com this year, and we’ll continue to add to our collection on this subject. Find our latest article, “The Value of Valuing Mental Health,”.
It’s encouraging to see that so many of you are thinking about—and likely taking action on—this important aspect of wellness. Your employees, families and members and you yourself will be better for it.cues icon