Today, members find new financial institutions and credit unions online. (At least 97% of consumers research online before visiting a local business in person.) And because most members switch financial providers when they move or [...]
Texting isn’t a new communication channel—it’s been around for several decades. Yet most businesses—including banks and credit unions—aren’t utilizing it to its full potential. Read on to learn three [...]
The days of direct mail and email blasts have been over for some time, but most businesses (and financial institutions) haven’t fully captured the power of consumers’ favorite communication tool—their phones. While texting [...]
The banking industry has experienced a dramatic shift in the last few years. New priorities for mobile banking, real-time connection for financial advice, and even a completely digital, paperless banking experience (with no physical branch [...]
Wallet share, or the amount members regularly spend with your finserv brand, rather than with competitors, is directly correlated with retention, lifetime value, and member satisfaction. The greater your wallet share, the more loyal your [...]
Consumers are less happy with their financial institution than they were last year. From 2021 to 2020, the number of members happy with their primary bank dropped from 86% to 78% while at least 12% [...]
Member acquisition costs vary from credit union to credit union, but if you’re increasing your spend year after year and you’re not seeing results, it’s time to consider a shift in your [...]
Member expectations for communication have been evolving dramatically in the last few years. Now, more than ever before, consumers are spending more time on their mobile devices—nearly 4 hours every day. And their expectations [...]
Dramatic shifts in the last few years have left credit unions and banks pivoting to meet new customer expectations, digital transformation requirements, and updates to the member journey. And with the changes from COVID-19 likely [...]
The credit union experience is centered on a local, personalized member journey. And that usually starts online. At least half of all web traffic is on a mobile device and “bank near me” searches have [...]
Thank you for tuning in to episode 16 of The CUInsight Network, with your host, Lauren Culp, Publisher & CEO of CUInsight.com. In The CUInsight Network, we take a deeper dive with the thought [...]
Digital transformation has been pushing change in the retail banking space for decades. And for credit unions, those shifts have come in big waves—mobile apps, text-based communication, online portals, and even a greater focus [...]
There are over 5,000 credit unions available to consumers in the United States. The competition to find new members is high. In order to stand out in today’s modern world, credit unions are [...]
Your online reputation matters. And if potential members are reading online reviews that don’t accurately reflect the customer experience you provide your existing members, you’re likely losing to the competition. Over 90% of [...]
Trends in retail banking have shifted in the last few years, but digital transformation and increasing digital customer demands are making strides to change the industry forever. In our experience economy, consumers expect more than [...]
