What to Stop, What to Keep, and What to Start at Your CU

Design thinking presentation slide

How does design-thinking apply to a credit union? It’s all about process — and that process includes empathizing with members, defining their problems, “ideating” those issues with solutions, prototyping concepts for rectifying the issues, and testing those prototypes to deliver feedback.

Anne Legg, CEO of Thrive Strategic Services, helped credit union leaders during the fifth and final day (Nov. 5) of the Virtual REACH 2020 conference, highlighting how design-thinking can be integrated into leveraging data and talent to create revolutionary member relationships.

“You want to have all your business units involved, specifically those who can talk about your members,” Legg said. “Cross functional teams are key. You want to have all teams working together for the design-thinking outcomes you want. Marketing may be thinking one thing while your technology people are thinking something else. Get them talking to each other.”

An important part is member data. She said credit unions need to identify and reframe the legacy thinking around data; build a data culture around member resolution; identify the data needed to solve member problems; embrace a process to create member-centric solutions; and build data consumption and confidence capabilities.

The member experience ecosystem includes their journey, the friction on that path, opportunities, people, and the process.

“You’ll be building data consumption and confidence capabilities when you do these things,” Legg said. “Think about how members’ problems are phrased through design-thinking. They don’t say they need an auto loan; they talk about their problems revolving around transportation. They have a transportation problem, or a shelter problem, or a travel-and-play problem, or a rainy day and retirement problem.”

The breakout session was one of a couple, in addition to more REACHtalks and Spark Sessions that same day on “The Storm: COVID Collections,” “Getting More Out of Your Brand,” and “How Cash Management Outsourcing Empowers Branch Transformation and COVID-19.”

You can watch Anne Legg’s session and also catch the entire conference in real-time or on-demand! Click here to experience this exclusive virtual conference on Oct. 26, 28 and 29, and Nov. 4 and 5. REACH 2020 is one of the credit union industry’s premier annual events, drawing leaders and system partners from across California, Nevada and the United States.

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