First impressions are important. They stick with you. You base all future interactions in contrast to that first one. It's said that a first impression is based 93% on what we experience and only 7% on the actual words we hear, so that experience is critical. After you sign on a new member, your courtship isn't over. Member onboarding is part of that first impression. It's not just about your marketing to sell them on your products. It's an opportunity to set expectations, to educate on how to use the tools you've provided them to manage their accounts, find the information they need, apply for loans, etc. This is your opportunity to prove that they've made the right choice by choosing your credit union. Both your intentional and unintentional efforts will be folded into this impression, so developing, and executing, a thorough onboarding strategy is a smart play.

Who reads online reviews before making a purchase?  EVERYONE! A picture is no longer worth a thousand words in the realm of online shopping... words of others are worth a thousand words and more. The influence of online reviews and commentary, both positive and negative, has become increasingly critical to a product or brand's success. Reading the experiences of others is now one of the most impactful resources for potential customers. In fact, a recent study indicated that 90% of consumers consult online reviews before transacting with a business. During Amazon Prime Days earlier this month, for example, Amazon sold over 175 million items in two days. Each item has its own star rating review and some are labeled as a Prime recommended product... a bonus for that particular company, who no doubt saw a boost in sales due to that recommendation. A review can hold the power to make or break a business relationship in any industry where the consumer has a choice to make, credit unions included.

2018 was a prosperous year for credit unions across the United States, and FLEX credit unions were no exception. Over the course over the year, our clients have made tremendous efforts to implement resources and services that provide more value and improve member experience. Three credit unions really stood out, and we are excited to share their achievements and successes from the past year. Here are our “Credit Union All-Stars” from 2018.

As the world is learning a new term in "Ambien tweeting" with Roseanne Barr's recent blunder, they are also revisiting the ugly word "racism." Credit unions hold a unique distinction in the financial industry as consistently serving minority communities. Credit unions are frequently the only federally insured institutions serving low-to moderate-income and underbanked populations. There is no place for racism within credit unions, as the whole industry was founded on the premise of people helping people, the antithesis of racism. In addition to moral belief in the credit union difference of embracing diversity, diversity itself makes great business sense. The NCUA adamantly states: It makes good business sense to have members, managers, and employees reflect the community credit unions serve and for credit unions to serve diverse segments within their communities. Diversity leads to better service, greater innovation, improved solutions, and increased membership.