Credit Unions need to think dynamically when it comes to new ways to grow their loan book, increase their membership, and expand their common bond. Financial institutions are changing how they do business, embracing technology and new member services, allowing you to grow your Credit Union and remain competitive against other financial services rivals.
Technology and services are integral to achieving the internal changes and improvement to member services that Credit Unions need to become powerful financial institutions. Keeping ahead of technological advances and consumer trends allows you to attract and retain the next generation of members.
Using our business intelligence software, Member First Credit Union put together a marketing plan that targeted millennials in their area, encouraging them to join the Credit Union with a series of specialised loan products catered to their stage of life. This led to a 39% increase in their millennial membership, and a loan book growth of 25%.