One way to reduce new member churn at your credit union

It can be hard to bring in new members to credit unions. And the reality is, that difficulty can be measured in dollars. Member acquisition costs can add up quickly.

So, it’s critical to keep new members once you get them. Unfortunately, there’s no secret formula to reducing new member churn.

Or is there?

What Does a New Member Cost?

Credit unions usually spend around $400 to acquire new members, but that number can balloon to around $700. That means that bringing in new members can get expensive, and fast.


continue reading »