Posted by Christopher Stevenson
I'm a man divided. I lament the loss of the slower lifestyle of a bygone era, but at the same time get frustrated when Walgreens isn't open at 9 p.m. on Christmas Eve so I can buy last-minute items (tape and wrapping paper, not X-mas presents...honest) or, as on a recent trip to the Bahamas, shops are closed on Sunday. I feel a little guilty about it, but the truth is, I want what I want, when I want it, even in the middle of the night and on holidays. And I'll bet I'm not alone. C'mon, fess up; you're just like me. So are many credit union members.
Although it may be an unpopular notion among the folks who work in branches, credit unions may benefit by extending their hours to better match the lifestyles and preferences of their members. Many people don't have the flexibility in their work days to stop off at the credit union. Consider that 40 percent of Americans work more than 50 hours a week and in 57 percent of all married couples both husband and wife work. Folks are having a tough time finding the elusive work/life balance. And because of their busy schedules, Americans have come to expect extended hours of operation from their retailers so they can shop late into the evening (or the middle of the night), seven days a week. Shopping centers, drugstores, grocery stores, and even public libraries have changed to meet consumer demand. What about CUs?
By and large, credit unions (and most banks) don't offer the extended hours consumers demand; it happens rarely enough that when they do, it makes headlines. Even at branches in large retailers like Albertsons or Wal-Mart stores, it's common to see darkened teller lines in the early evening and on Sundays; the store is open, hundreds of people are shopping during the retailer's busiest hours, and there's no one staffing the branch or speaking with customers. It seems like a missed opportunity.
Financial service providers struggle to differentiate themselves from the pack. Offering business hours when members need them is one way to do it.
