NEWPORT BEACH, Calif. — “Give a member a delivery channel and they will take it,” Tony Boutelle, CEO of CU Direct, said in his opening remarks at the group’s lending conference today.
He observed that online transactions are the now but mobile will overtake that sometime between 2015 and 2019, so credit unions must be prepared. But just because online and mobile are the growth points right now does not mean others can be abandoned because all of credit unions’ delivery mechanisms are experiencing growth.
Boutelle had four bits of advice for credit unions. First he said to be more assertive and be where your members are going: online and mobile apps. Along this vein, CUDL also announced expanded capabilities for its AutoSMART iPhone app and the development of an Android based app. One feature allows credit union members to apply for a loan while at the dealership, and the other is Sell Your Ride, permitting members to upload vehicle data and pictures via mobile app to unload unwanted vehicles.
“The new components we’ve added to the AutoSMART App provides our credit unions with a very diverse mobile application that improves their ability to stay connected with their members and enhance member loyalty,” said Joe Greenwald, vice president of marketing and communications at CUDL.
Boutelle’s also suggested credit unions get more aggressive in lending while staying smart by better leveraging analytics for risk and rewards. He added that strengthening car dealer relationships and cross selling were important in credit union strategies.