Deeply ingrained in a credit union’s legacy is the ongoing commitment to understand and better serve members. While this focus was historically tied to credit unions’ SEG relationships, today they have an open market from which to attract new members. The question is how do they attract these members? With the increasing influence of technology in the marketplace, consumers have high expectations for retail experiences. The challenge for credit union leaders is providing an experience that rivals that of successful retailers such as Amazon, Google, Facebook and Apple.
Transforming how credit unions do business and attract membership will be critical to both organic and PFI relationship growth. Members’ best interests are at the heart of the credit union movement, and continuing to adapt to the ever-evolving needs and expectations of the member is what will keep credit unions relevant and competitive in the future. Finding the right balance between technology-driven experiences and the right level of personal attention and service will be critical for brand awareness and success.
We surveyed credit unions across the nation to learn how their executives are confronting present day challenges and converting them into future opportunities. We have compiled an industry report that shares:
- Top challenges
- Targeted strategies
- Peer to peer commentary
- Insights for future planning
Learn what strategies and tactics have helped others in the industry so you can strategize for the success of your own credit union. What does the future hold for growing membership in your credit union?