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Here’s the money question for you to ponder: : should you close that branch on Third Street and open a new branch in a neighboring town? Keep in mind that the ballpark cost of opening a new branch is $2.5 million. As for costs in a branch closure there always are some and there also may be remember losses. How to do the math?

Meet Steven Reider, president of Bancography - that’s the company that won best in show at Finovate fall 2024 for its Bancography Plan software tool that helps a credit union alanalyze branch closings and openings and also possible mergers.

Decisions that had been made based upon gut instinct now can be supported with analytical data.

How hard is Bancography Plan to use? It’s so easy, said Reider, even a CEO can use it.

As I tell Reider in the early moments of the show I’d never heard of such a tool before combing upon a Bancgraphy press release. But I knew when I read it I had to geet this guy on the show.

Oh…the costs are surprisingly affordable.

Listen up.

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Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto