Best Texting (SMS) Providers for Credit Unions and Banks (2022)

Man Using iPhone
(Last Updated On: February 24, 2022)

Congratulations! Your institution is considering having texting (SMS) capability. The value of engaging members how they prefer to be reached, plus the incredible read/response rates is too much to ignore.

As people continue to depend on their phones for more aspects of life (imagine what the future will hold!), it’s a great decision.

And in case you’ve made your way here without learning why SMS is one communication channel you cannot ignore, check out our Texting section of the Learning Library.

You’ll discover why it’s growing so fast, some pros and cons, as well as considerations to make.

Of course, you’re here to find the best SMS providers for the financial industry. Each of these companies have a strong track record partnering with credit unions (and some with community banks).

Many customize their services for your unique needs. Keep in mind any integrations, API connections, and other additional work you may require to make it work smoothly.

We present these companies in no particular order so you can decide from an unbiased perspective. Additionally, claims and descriptions are from their own websites at time of publishing.

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Holding Phone and Coffee

300 Elliott Ave. W, Suite 500
Seattle, WA 98119


Exclusive to the financial industry: No

Zipwhip offers their business texting solutions to all industries. They claim to be the first company to enable texting on existing business phone numbers. They are also the world’s leading business-texting software and API provider.

More than 35,000 companies use Zipwhip to increase customer engagement and drive growth through texting on their existing landline, VoIP, or toll-free number.

Our research found Zipwhip tends to be the least expensive option with a range of basic features. Service, support, and integrations are priced on an “a la carte” basis.

727 Allston Way
Berkeley, CA 94710


Exclusive to the financial industry: Yes

Woman Using Phone Under Palm Tree

Shastic claims to redefine how credit unions and banks apply technology across digital channels. This fintech provides productivity solutions for customer engagement, loan generation, and workflow automation to meet the rising demand for digital banking services.

They also claim to have created the first-ever Facebook, online, and mobile lending platform for financial Institutions back in 2012.

Solutions by Text
5001 Spring Valley Rd., Suite 1000E
Dallas, TX 75244


Exclusive to the financial industry: No

Solutions by Text provides your institution with a team of business consultants to improve your success. Their systems help you enhance your bottom line through business texting focused on compliance. They support one-way and two-way texting solutions.

Text Concierge by MEA Financial
205 E. Broadway St.
Monett, MO 65708


Exclusive to the financial industry: Yes

Text Concierge is a new customer service tool that brings all your communication channels into one portal to simplify monitoring and improve security. Their technology supports a range of channels, including SMS, social media posting, and more.

Enjoy two-way texting with account holders as you simplify their loan application and closing process.

1525 McCarthy Blvd., Suite 1007
Milpitas, California 95035


Exclusive to the financial industry: Yes (Credit Unions only)

Line of People Using their Phones

Eltropy enables credit unions to communicate with members over SMS in a secure and compliant way. Integrate their technology with your core to connect lending, collections, sales, marketing, contact center, and other teams into a single platform.

With unified insights via their in-depth analytics, you can increase member engagement while having the data to verify results.

From our analysis, Eltropy is the most robust solution, though also the most expensive. Their pricing is based on:

  1. Assets
  2. Employees using the platform
  3. Integration (Costs range from $5,000 to as high as $200,000 for fully integrated systems at $1B+ CUs using the platform across their entire institution)

Your Due Diligence Resource

For once, it’s wise to “phone in” your analysis! Nearly all your members are on their phones, and texts not only get read; they get answered. Be sure to get yourself equipped with all the knowledge possible through our Text (SMS) series, then use this list to choose a provider.

Each of these companies will provide a quality product, however, it’s up to you to figure out which is the best fit. What are your top challenges, priorities, limitations, and goals? The answer to these questions can help you better engage your top choices.

As always, we encourage you to Subscribe to the Learning Library to keep these insights flowing. From Marketing to GAP (yeah, there’s still lots to learn), we are committed to providing you honest guidance across your institution.

Joe Winn - CU Geek

Blogger. Speaker. Part-time Jedi.

Focused on helping your bank or credit union grow in the face of emerging challenges.