Knock down, drag out?
As noted in yesterday's post [link] "The Main Event" is scheduled for June 3, 2025, which will be "Independence Day", as LGFCU transitions to CIVIC FCU.
Some lively comments were voiced about rates, rivalries and reactions from CIVIC members. All that aside, what may be more important to consider is the underlying "pachyderm in the room": "The Branch Question".
CIVIC leadership is betting the ranch on an "all digital" credit union. They have tried to claim that all CIVIC members will have a branch within 30 miles (sounds like a "financial desert" expansion!); but that "branch network" is more faux than fact.
The latest exciting new member service announcement by CIVIC is:
"Quickly add cash to your CIVIC account when you
stop by one of nearly 200 participating Walmart stores in NC."
" It's easy!"
- "Visit the Money Center, or a checkout lane
- Hand the associate your Civic debit card and your cash to load
- They'll swipe your card, and your money will load automatically!
- Load up to $1,000 per transaction, and up to $1,500 per day. Keep your receipt as proof of your transaction; the retail service fee will be reimbursed by Civic."
😎 Before you let that smirk get too far on your face, it might be wise to be patient and see how the 400,000 LGFCU members respond. How would you?
No one doubts that expanded "mobile, internet, digital" access is a basic financial requirement going forward (like ATMs in the past). Both SECU and LGFCU have had mobile member access for a decade (clunky perhaps!) with multi-million per month transactions. That's not going away!
✅ The bigger question is : "What's next for the 275 SECU branches and branch staff?"
What would you do? **
** Don't waste your time, it's not in the "Strategic Plan"!
