The NAFCU Journal September-October 2020 - 9

This conjecture would help explain why
respondents in the next two categories,
those with up to 50 percent of nonbranch
staff regularly teleworking, provided
slightly less positive assessments of current
WFH relative to expectations.
However, a striking result from Chart 2
is that respondents with "a lot" (more
than half) of staff regularly teleworking
prior to COVID-19 yielded the most
positive results. A staggering 91 percent
of such credit unions said that WFH is
going better than expected, while the

other 9 percent said it was "as expected."
Presumably, these credit unions should
have had the most accurate expectations for how they would fare under an
extended period of WFH across the
organization, and yet the vast majority
say that their experience exceeded those
expectations. This suggests that the benefits of past experience may be nonlinear.
Credit unions in which more than half
of nonbranch staff work remotely on a
regular basis, where every division is
accustomed to coordinating while one or
more members are out of the office, and

Chart 2: How WFH Has Functioned During COVID-19,
by Pre-COVID WFH Usage
Net Percent Reporting "Better Than Expected"

Pre-COVID WFH Usage

-100%

-50%

0%

+50%

+100%

All
None

where WFH is an ingrained part of the
organizational culture, have experienced
the best outcomes with remote work
during COVID-19.

Broad Support for Wider
WFH Adoption

Finally, respondents were asked whether
they expect their credit unions to
expand the availability of remote work
after COVID-19. Again, the results
were exceptionally positive. Overall, 75
percent of survey participants expect
their credit union to utilize remote work
more than it did prior to the pandemic,
while only 5 percent expected to use it
less. However, in both the assessment of
current experience during COVID-19
and in their outlook for future WFH
adoption, C-suite respondents were
somewhat more positive than staff. One
lesson for executives who expect to
increase use of WFH after the pandemic
subsides may be to ensure that their staff
is also eager to do so.
It will be interesting to monitor how
the COVID-19 crisis impacts credit
unions' WFH policies moving forward,
potentially creating a change of pace in
which more staff work remotely on a
regular basis.

A little
Some
A lot

Source: NAFCU State of the Industry survey

Curt Long is NAFCU's chief economist
and vice president of research.

Index to Advertisers
Al Oasis
Phone: 888-227-7967
Website: www.ai-oasis.com.............................................C2
FIS
Website: www.fisglobal.com/cu2................................... BC

LendKey
Website: lendkey.com/lend............................................... 31

Triad
Website: triadfs.com.......................................................... 25

Open Lending
Website: openlending.com.................................................. 2

TruStage
Website: cunamutual.com/auto......................................... 5
Website: cunamutual.com/truestage.............................. 15

Franklin Madison
Website: franklin-madison.com........................................ 27

Q2
Phone: 833-444-3469.
Website: q2.com..................................................................C3

Gallagher
Website: www.nafcu.org/Gallagher................................ 21

Securian
Website: securian.com...................................................... 11

THE NAFCU JOURNAL  SEPTEMBER-OCTOBER 2020

9


http://www.lendkey.com/lend http://www.triadfs.com http://www.ai-oasis.com http://www.openlending.com http://www.cunamutual.com/auto http://www.fisglobal.com/cu2 http://www.cunamutual.com/truestage http://www.franklin-madison.com http://www.q2.com http://www.nafcu.org/Gallagher http://www.securian.com

The NAFCU Journal September-October 2020

Table of Contents for the Digital Edition of The NAFCU Journal September-October 2020

The NAFCU Journal September-October 2020 - Cover1
The NAFCU Journal September-October 2020 - Cover2
The NAFCU Journal September-October 2020 - 1
The NAFCU Journal September-October 2020 - 2
The NAFCU Journal September-October 2020 - 3
The NAFCU Journal September-October 2020 - 4
The NAFCU Journal September-October 2020 - 5
The NAFCU Journal September-October 2020 - 6
The NAFCU Journal September-October 2020 - 7
The NAFCU Journal September-October 2020 - 8
The NAFCU Journal September-October 2020 - 9
The NAFCU Journal September-October 2020 - 10
The NAFCU Journal September-October 2020 - 11
The NAFCU Journal September-October 2020 - 12
The NAFCU Journal September-October 2020 - 13
The NAFCU Journal September-October 2020 - 14
The NAFCU Journal September-October 2020 - 15
The NAFCU Journal September-October 2020 - 16
The NAFCU Journal September-October 2020 - 17
The NAFCU Journal September-October 2020 - 18
The NAFCU Journal September-October 2020 - 19
The NAFCU Journal September-October 2020 - 20
The NAFCU Journal September-October 2020 - 21
The NAFCU Journal September-October 2020 - 22
The NAFCU Journal September-October 2020 - 23
The NAFCU Journal September-October 2020 - 24
The NAFCU Journal September-October 2020 - 25
The NAFCU Journal September-October 2020 - 26
The NAFCU Journal September-October 2020 - 27
The NAFCU Journal September-October 2020 - 28
The NAFCU Journal September-October 2020 - 29
The NAFCU Journal September-October 2020 - 30
The NAFCU Journal September-October 2020 - 31
The NAFCU Journal September-October 2020 - 32
The NAFCU Journal September-October 2020 - 33
The NAFCU Journal September-October 2020 - 34
The NAFCU Journal September-October 2020 - 35
The NAFCU Journal September-October 2020 - 36
The NAFCU Journal September-October 2020 - 37
The NAFCU Journal September-October 2020 - 38
The NAFCU Journal September-October 2020 - 39
The NAFCU Journal September-October 2020 - 40
The NAFCU Journal September-October 2020 - Cover3
The NAFCU Journal September-October 2020 - Cover4
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