Credit Union 2.0, credit union digital transformation

1. Differentiate With Data

Utilize Google Analytics – Are you not sure where to start? Check out this infographic

An Example: Run a report and find out how many of your members have used Venmo, Paypal or Bitcoin in the past 90 days.

2. Be your Own Secret Shopper and Attempt to Open a Membership at your Credit Union

Write down your first 10 thoughts and feelings as you go through the process. Share and compare these thoughts with your peers. You will be surprised what you realize and how you can IMMEDIATELY make an impact on member experience.

3. Create Repeatable Experiences

Run a Monthly Report on any member with over $25k in savings. Look for members that don’t have Overdraft setup. If the member does not have it, set it up, and then send the member this sample email:

Dear Member – We just want to take a minute and say thanks. We love our loyal members, and we hope that you feel the same! We like to make sure that your account is always looking good, so we were crunching some numbers. In our analysis, it looks like you would be a terrific candidate for overdraft protection. This feature allows you coverage so that if you accidentally forget how much money you have in your checking account – we have your back and don’t A) accidentally bounce your check(s) B) don’t accidentally charge you a fee. If for any reason you don’t want that setup, please click here to let us know.

4. Reinforce with Social Media

First, Sign-up for the CU 2.0 Facebook Feed which provides great content at your fingertips for you to re-post for your members. It also provides contest ideas and relevant social media holidays.

Next, figure out who your top members follow on social media and follow 5-10 influencers that will help you have street cred with your members. Click here for your CU 2.0 Facebook Influencers Guide.

Finally, claim your spot on Yelp. Check out the CU 2.0 yelp guide here.

5. Write Your First Blog

Blogs are a terrific way to answer FAQs from your membership. It also is an opportunity to connect with your membership and stay top of mind. Not sure where to start? Answer the top question your members have. An example is: What’s the difference between a credit union and a bank? (click here for a great example of a blog on this)

6. Send your first New Member video with the Credit Union 2.0 Methodology. Click Here to learn more

When new members join a credit union, it is a key opportunity to make an amazing first impression and connect on a personal level. Our mission is to help you improve your credit union’s new member experience while increasing product penetration and retention among new members.

7. Join the Private Credit Union 2.0 Facebook Strategist group community to learn with your peers.

The group is filled with industry leaders and innovators. One of the best ways we can learn is from one another. Together, we all move forward!

8. Motivate

Think about and schedule one free course or lesson on something that your members would want to know about in your community (the topic doesn’t necessarily need to be related to financial services).

9. Buy 10 Copies of the Credit Union 2.0 Book

Distribute these copies to your board and/or management team. After reading, have a thoughtful discussion about your business and what is important to you. Where should your focus be? What needs to change?

10. Tell Your Story

Why do you care about your credit union and its members? Write down the answer to this question and make sure it gets you excited. It will and should be different for all of us! This will help you define your voice and what you want to share with your members.