Keeping Pace with Change

Across the Province, we are returning to our routines with a sense of cautious optimism. Confidence in the way we do business is rising as Nova Scotians follow Public Health guidance and spend time and money more intentionally here at home. While we can’t be certain of what comes next in our economic recovery, we can think ahead about how best to manage a period of ongoing change.

Across many organizations, traditional methods of serving customers, working with suppliers and collaborating with colleagues have been radically altered. Recent consumer surveys indicate people around the world have shifted at least 10% of their purchasing habits to e-commerce in just a few months, accelerating existing trends toward digitization. Nearly 25% of Canadian businesses expect a portion of their employees to keep working remotely when the pandemic ends, creating long-term implications for workforce management.

Entrepreneurs and leaders have been challenged to make quick decisions in order to keep pace. The CUA team is working with many organizations and small businesses striving for resiliency. We have been inspired by the stories of those who have made necessary investments in personal protective equipment, maintained their workforces in a virtual model, shifted their sales and services online, and more. Similar to global trends, at CUA we have observed a reduction in customers seeking in-person services in favour of digital or telebanking options. We continue to monitor and explore what these changes mean for the long-term.

It can be difficult to plan ahead. The current environment requires everyone to follow trends we did not anticipate and prepare for those we have not yet experienced. We are all striving to think intentionally about our circumstances and how we can become more resilient to change in our personal and professional lives. That thinking often leads to questions about preparing for the future, like how to make or maintain a financial plan in the midst of uncertainty, what can be afforded and what are necessities. Finding answers often starts with engaging in conversations about what matters most and what you want to achieve for yourself or your organization. If you have questions about how to position your finances for the future, consider starting a conversation with CUA. We are ready to offer the friendly advice and expert guidance that can help you find or stay on the right path forward.

As always, I encourage you to reach out to us at 902.492.6500 or to learn more.

Your CEO,

Marie Mullally
President & CEO
Email Marie

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