Attract and retain members with engaging benefits and a plan to educate people about them! Editor’s note: This is based on a post from our colleague, Trae Turner, from StrategyCorps (as are the images). We couldn’t resist adapting a “5 steps” article; that’s our thing! In a time of economic…
Editor’s note: This is a guest post from our colleague, Adam Thompson, from StrategyCorps. We thought the message resonated, especially as members adopt more and more digital behaviors and expectations. Please enjoy his insights, then take a look at how they can help your credit union identify unprofitable members, then…
“Credit unions are different. Our members are the owners, and since we don’t answer to shareholders, we’re able to offer lower rates & fees.” That’s been the siren song of credit unions for generations. Is it still true? And do your target audiences, or even members, care? Borrowing rates are…
For some of your members, a debit swipe can regularly cost far more than the item they purchased. OD and NSF fees. Sure, they can be opt-in, but does that make them any better? When 75% of your fee revenue comes from 8% of members, that’s not mission-focused. Those members…
What do credit unions have that mobile-first fintechs don’t? As many users, for one. More Millennials and Gen Y use app-based banking products than primary checking accounts at every credit union…combined. It seems the only path is to better compete on price. Free-er checking, scratch that…free-est checking! Forget the toaster,…
