January Is Humanizing Post-Charge Off Collections
Nobody wants to fend off calls from collectors. Not only are those phone calls notoriously ineffective, but they also seriously annoy consumers… and often damaging their relationships to associated institutions.
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?
Does Credit Union Content Marketing Work?
Content marketing is a kind of marketing strategy designed to attract and nurture inbound leads. It relies on maintaining a consistent and prominent online presence to show up in peoples’ internet searches. Can credit union content marketing work? Few credit union marketing strategies are exactly alike. Each credit union fills a unique niche and appeals […]
A Quick Guide to Credit Union Member Acquisition Costs
In a perfect world, the reputation of any given credit union would precede it, and people would flock from far and wide to join. Not a dime would be spent on marketing. Unfortunately, it’s not a perfect world. Any credit union growth strategy is going to rely on marketing for brand recognition. The real question […]
Financial Literacy for Kids: Where to Start for Credit Unions
For all the talk of member loyalty, there’s a surprising lack of focus on young members. No, not Millennials, who are turning 40, and no, not even Gen Z, who are in their 20s.
How many new members leave your credit union in the first 100 days?
This blog has been updated for 2020. New member acquisition costs and average attrition rates have changed some of the math involved, but the end result is largely the same. Is your credit union looking for new member growth? Are Millennials and Gen Z key to your long-term viability? If you are like most credit […]
One Way to Reduce New Member Churn at Your Credit Union
It can be hard to bring in new members to credit unions. And the reality is, that difficulty can be measured in dollars. Member acquisition costs can add up quickly. So, it’s critical to keep new members once you get them. Unfortunately, there’s no secret formula to reducing new member churn. Or is there?
Lead Scoring: Getting to Know Your Members
Lead scoring. You may have heard the term. Perhaps you’ve talked about it without knowing what it was even called. Fortunately, we’re here to bring you an introduction to lead scoring for credit unions. Many credit unions measure the success of a marketing campaign solely with “home run” metrics. For example, we measure car loan […]
Credit Union Member Growth
Credit union membership growth! How do you measure it? It seems like a simple question, just like “where can I get the best burger in town?” seems like a simple question. However, once different interpretations of what constitutes a new member—or a good burger come into play—things don’t stay so clear. I have been on […]
Do Your Credit Union Card Goals Match Your Members’ Needs?
A recent survey showed that credit unions and their members are looking for different things from their credit cards. In fact, 76% credit union card goals were aimed toward growth, while the rest prioritized member services. But here’s the rub: 100% of members polled listed “false declines” as their number one service issue for credit cards. […]