How to Improve Your Credit Union Member Onboarding Process

By Preston Packer |

Dec

21

As a credit union (CU), you want to offer your members the highest level of financial services, including seamless onboarding. Although you might already have an efficient digital banking system, it won't matter unless you attract and retain new members. To help your CU, let's explore several ways your credit union can go from average to excellent in onboarding and member growth in 2022.

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3 Lessons Credit Unions Can Use to Drive Member Growth in 2022

By Preston Packer |

Dec

07

With the emergence of financial services industry disrupters — FinTechs— the battle for the hearts, minds, and wallets of credit union members is fiercer than ever. Unlike these firms, however, your credit union's core value statement isn't necessarily centered around trendy technology. But you can leverage state-of-the-art solutions to drive membership growth, and do so in a way aligned with your core value proposition. Here are three ways you can do just that in 2022.

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2022 Planning Priorities for Credit Union Growth

By Preston Packer |

Dec

01

It's simple: Those who fail to plan are planning to fail. While this may not be a surprise or foreign concept, not all planning is created equal. As you begin entering strategic planning for the upcoming year, here are three key goals that should be on your credit union's roadmap.

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Credit Union Mobile Banking Trends for 2021

By Preston Packer |

Jun

16

Mobile banking has many benefits for credit unions and their members. A mobile banking app can provide members with 24-7 access to account information, instant bill pay features, and the ability to make purchases, transfer money to friends, and deposit checks with just the click of a button. These revolutionary changes have made banking quicker and easier than it’s ever been. As mobile banking continues to transform the financial industry, credit unions must pay close attention to what’s happening.

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Using Integrated Technology to Onboard Credit Union Members

By Preston Packer |

Feb

25

All around the country, credit unions are seeking the best strategies for moving forward. Since the pandemic has changed consumer behavior dramatically and things are unlikely to return to normal anytime soon, credit unions must adapt to the times and provide members with the services they now want and need. After all, credit unions were founded to serve their members. But to do so, it helps to understand current trends in the credit union world and the economy at large.

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Reduce Friction for New Account Opening with this Checklist

By Preston Packer |

Sep

01

Every time we talk about adding new services or planning for member onboarding improvement, the goal is to "reduce friction." This means when someone is trying to accomplish a goal, you help them achieve it with as little resistance and as few steps as possible. You want the experience to be easy. This is especially true during account opening as it can set the expectations for the member experience moving forward. Here is a quick reference on what a member will need and an explanation of why you need it.

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Onboard with Ease Using Digital Account Switching

By Preston Packer |

Aug

20

A thoroughly planned member onboarding strategy is important to a credit union's success. It is the honeymoon period of your relationship where during the first few months you show a new member they made the right choice by selecting your credit union. The first key step of that onboarding process is account switching. Change is hard and you need to make it as easy as possible from a member experience perspective. Digital Account Switching is the answer.

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Get Member Onboarding Right, or Else

By Preston Packer |

May

28

While many credit unions have experienced the cost savings that come with having digital-only members, CUs are simultaneously sabotaging those perks by neglecting to treat these members with the care that an in-branch member would receive. This lack of personal attention is leaving new members less satisfied and therefore more likely to take their money elsewhere. Just because they are interacting with your branch in a different way, does not mean you should sacrifice the credit union difference.

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Onboarding Best Practices for Long-Term Success

By Preston Packer |

May

26

Member onboarding is the process of teaching new members what tools and services are available to them now that they are part of the credit union. Could that be executed in a one-and-done printed booklet you could just hand them? Probably. But, an effective onboarding program does a lot more than just share some information. It allows the credit union and the member to develop channels of communication and a relationship that is more than just business to customer. Here we discuss four best practices that can help do just that.

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5 Secrets of Successful Member Onboarding

By Preston Packer |

May

20

While it's no secret that member onboarding is a critical stage in credit union membership, how to do so effectively is a far lesser known. Here we outline five tried and true keys to a successful member onboarding process.

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