Matt Dean of Trabian: A vision of the hyperlocal CU

Matt Dean, President of Trabian, shares his vision for the hyperlocal CU at the Partnership Symposium in Indianapolis.

[Brent Dixon recorded this session on video here.]

Online banking: Statements become live links to transactions.

For instance, you spend $32.94 at the RAM, an excellent local restaurant and brewery. This becomes a live link to the restaurant and live reviews. Not just a garbled bunch of unintelligible numbers and letters. Logo included. Then merchant has a dashboard with the information.

From member point of view: Savings goal integrated in. Shows item and progress toward goals. Dashboard given to the local shop carrying the product. What if merchant could then see that people were saving and give special offer to them? Member then has the option to see offer if desired. And make counter offer. Credit union can then offer to help member finance the difference, know what the loan is offered for.

Transaction is more than a line item in a database. Is a relationship between member and merchant. CUs can bring tangible benefit with local focus. CUs can do this because they have trust. This also promotes thrift and prudent lending.

Currently: tiny value in online banking statements; this would have much more value. Right now, statement is read-only. This would add interaction.

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