How Good is Your Credit Union’s Online Experience, Really?

When credit union members describe great service, they’re not always talking about a visit to their neighborhood branch. What they really want is an easy to use online resource, according to consumer behavior expert Rob Rubin.

Rubin was a featured presenter at last week’s Executive Summit, presented by the Northwest Credit Union Association (NWCUA) and the Northwest Council of the Credit Union Executives Society (CUES).

“Credit Unions will spend $1 million on a branch with no problem,” Rubin mused. “But spending $50,000 on a new website gives them angst.”

Rubin believes investment in an online virtual branch is the key to member satisfaction and recruitment of new members. As Managing Director of Novarica, Rubin provides insight on markets, operations and technology to financial institutions. He has an extensive background in analyzing how technology changes consumer behavior.

What he believes is that today’s consumer is using online resources as their primary shopping channel, and that they will follow the path of least resistance.

“If you make them think, you stink,” he told the 60 Summit attendees. “You don’t need a pretty site, just a site that gives people what they are looking for.”

Better rates alone won’t win the war for new members, especially not where consumers 30 and under are concerned. In fact, Rubin said, most online consumers will choose the products before they pick the institution. It’s all about the online experience.

 “If your website doesn’t change, you’re not going to get a different result,” Rubin said.

Rubin was among several leading financial industry rock stars highlighting the NWCUA/CUES conference.

The NWCUA/CUES partnership will next offer a Leadership Symposium, a one-day event for high-level credit union leaders, in SeaTac, Washington on Nov. 6.


Questions? Contact Lynn Heider: 503.350.2225,

Posted in Events.