How to Increase Credit Union Member Engagement

How to increase credit union member engagement with cu 2.0

I’ve seen a few guides on how to boost credit union member engagement before. And you know what? I wasn’t impressed. They were a little technical and self-serving. Technical in that they listed things like “segment lists for content marketing,” and self-serving in that they sell content marketing services.

Okay, maybe that’s a bit harsh. Some of the best suggestions are technical and self-serving.

But we’d like to introduce a few of our own ways to increase member engagement at your credit union. And we’ll try to keep it accessible!

How to Boost Member Engagement

Below are seven ways to get your credit union’s members more engaged. We’ll stay away from any suggestions that require a total overhaul of the way you do things. Minimally disruptive, one might say.

1.    Use push notifications

Wow. After we just said nothing technical. But the thing is, push notifications on your mobile app will entice members to check in on their accounts more often. Low balance alerts, deposit notifications, fraud alerts, promotions, and more can get mobile users to build deeper, more involved relationships with your credit union.

The credit union experience shouldn’t stop when members leave the branch. Give them a good user experience too.

2.    Survey often

User experience is but one part of member experience. And the best way to measure member experience is by actually asking your members how you’re doing and what they want.

Surveys can play a big part in your credit union’s strategic planning. They can also let your members know that you care, that you’re listening, and that their concerns will be addressed. There are many great survey platforms out there, but Member Loyalty Group and LiveSurvey are specifically geared toward credit unions.

3.    Host a cookout

What does it cost your credit union to put one person on grill duty for an afternoon? Grab a few dozen hot dogs, chill some sodas, and keep the condiments within reach. If you can feed some of your members—or some prospective members—they’ll remember you fondly.

There’s no way to measure ROI on this, but from personal experience: my last hot dog from ICCU was five years and 500 miles away, and I’m still talking about it.

4.    Respond on social media

One of the key words in “social media” is “social.” If someone comments on your Instagram post, comment back! If they send a message over Facebook, message back!

Be social on social media. It’s one of the few ways you can truly connect with members when they’re not in the branch. Take advantage of that opportunity!

5.    Don’t sweat the small stuff

Some rules are made to be broken. Some aren’t really, but you know when there’s a little wiggle room. If you want to boost member engagement at your credit union, you’ll need to know when to let things slide.

Maybe it’s an overdraft charge that they didn’t mean to get. Or maybe you could reverse a small fee. Or maybe you need to look the other way when they take two candy bars on Halloween. Either way, they’ll appreciate feeling like you’re on their side.

6.    Onboard harder

If you measure member engagement by the number of accounts, products, and services a member uses, then be proactive about it! When a new member onboards, send them a series of emails or account notifications to introduce them to relevant offers.

You should never wait a year after someone opens a checking account to tell them about your savings accounts. Just onboard harder.

7.    Send relevant offers

The keyword here—as you can probably guess—is relevant. You may need a decent data analytics platform for this. They help you provide that Netflix- or Amazon-like experience that most consumers have come to expect.

Even if your members don’t want the offers you suggest, they’ll appreciate that you understand their interests. Missing the mark here might actually alienate some folks.

The Big Takeaway

If you’re looking at how to increase member engagement at your credit union, any of these might help. Keep in mind too that this isn’t an exhaustive list.

Giveaways, promos, and informative content also provide opportunities for members to get more involved. Any of these can pull in your more distant members.

If social media, content, or marketing automation are on your radar, we can help with that. If you’re looking for help with finding turnkey options for the other solutions, we may be able to point you in the right direction. And if you need help with grilling, well, just ask any group of dads.

Subscribe to our blog! We’ll keep it interesting! Failing that, we’ll keep it useful. We promise.

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