STOCKHOLM, Sweden—Credit unions in other parts of the world are facing a similar challenge vexing many in the U.S.: continue to invest in branches, or limit physical branches and instead focus on digital delivery? For one massive CU system, the answer is clear.
Asked during the World CU Conference why it continues to expand branches, Mario Zwierewicz, president Sicredi Campos Gerais e Grande Curitiba PR/SP, said the 768 credit unions that are part of its system have more than 2,700 branches and continues to expand.
In some 200 Brazilian cities, it is the only financial institution with a physical presence.
“Digitization, AI, they are all crucial to complement the services we provide to members,” Zwierewicz told the World credit Union Conference. “Sicredi has been investing to be competitive with the biggest banks. But what differentiates us as a cooperative, as a credit union, is that members have a person they can talk to. Through the branches we get closer to communities, and when they need some consultancy, they have someone to talk to.”
‘Better Quality of Life’
“Now, in Brazil, the big banks are closing their branches because they believe everybody is only going to use digital services,” he continued. “But our branches help provide a better quality of life and people don’t have to go too far away to find a financial institution. We believe we are walking hand in hand with our communities in providing what they want. We employ one person for every 150 members. Banks employ one person for every 1,500 clients. Our business model is based on personalized support for the member. We also create employment. Our Net Promoter Score is strong because we have good app, good mobile offerings and good branches.”
