How to Compete with Big Banks Using Netflix and Amex Strategies
Big banks have something most credit unions don’t: massive marketing budgets and flashy perks that catch members’ attention. They offer travel credits, streaming subscriptions, and premium rewards programs. Meanwhile, credit unions are stuck trying to compete with limited resources and static benefit packages that nobody uses. Not surprisingly, members look elsewhere for rewards. Non-interest income […]
Array Is the Fintech Turning Indirect, “Single-Service” Members into “Real” Ones
What percentage of your members have only a checking/share draft account? How many members have indirect auto loans through you, but nothing else?
Can Credit Unions “Win” by Gamifying Banking?
Gamification is the strategy of adding game-like elements to non-game things. The goal is to increase engagement, and it works.
5 Common Mobile UI/UX Mistakes in Credit Union Apps (with Examples)
Have you heard of the Dunning-Kruger Effect? It describes a tendency for people to misevaluate their own knowledge or competence on a subject. Experts underestimate themselves—and for laypersons to assume they know way more than they do.
What Are the Benefits of Tracking Recurring Payments?
Tracking spending, especially recurring spending, can influence people to better manage their finances. Banks and credit unions have the unique opportunity in this arena to help their customers achieve financial health. And they should. We’ll cover why people should track their recurring payments. Then, we’ll discuss why your financial institution should help them.