This Opinion piece looks at how analytics can be used to personalize the member relationship.
Keep it simple, stupid.
Could it be that when it comes to connecting with members and creating a brand that’s different from the big bank on every corner, it’s really simple?
Personal financial management tools can offer members a convenient way to budget and save while providing a plethora of data about their spending habits, other banking relationships.
It would probably be a mistake for credit unions to assume their loyal members will likely choose them as their preferred lender when it’s time to buy a new vehicle.
Interest rates may not be as important as response to potential borrower. (Check out the graphic at the bottom!)
Texas credit union will send staffer to home or office to open accounts, help with loan applications or whatever the member needs.
As the number of members using online banking continues to grow, credit unions are capitalizing on that trend by investing in solutions that have expanded opportunities to cross-sell products, increase brand awareness and enhance services.
Who says you can never go home?
A legitimate and common complaint regarding the Dodd-Frank Act is that it not only did not resolve too big to fail wherein the taxpayer is on the hook for the missteps of the nation’s largest banks.