Does your credit union effortlessly acquire new members? if so, this post is not for you! However, if you work for a select employer group SEG-based credit union and you’re looking to grow your memberships, read on.
Have you been frustrated with how to target SEG members when the SEG isn’t as supportive as they used to be? Do you sometimes feel like your member growth strategy is stuck because you are leaking members? If you have challenges finding members and growing your credit union membership, this blog is for you!
1. Stop the leaking
First, before you spend any time trying to add new members, you MUST stop the leaking. Most credit unions don’t realize that 25–40% of all new members walk back out the door in the first 100 days. I know it’s shocking, but we have seen it over and over again.
The reality is, we get the member through door, open their account, and then everyone pats themselves on the back and forgets about them. Unfortunately, just because the new member nibbled the free sample, that doesn’t mean they want to buy the product. Most people will try anything once, but it’s the onboarding and engagement process that truly converts new members to loyal ones.
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