What’s member education worth?

by: Bill Prichard

Ernst & Young’s “Global Consumer Banking Survey 2014” asked how financial institutions could inspire customers to increase deposits or investments, add more accounts or services, or pay a little more. The top three answers:

73% – Invest in their customers’ financial wellbeing

72% – Provide a plan to help customers reach their financial goals

71% – Find new ways to improve how customers conduct business

Should you be investing more seriously in member education? If member engagement and loyalty are important to you, then member education is gold. In its many forms, education encourages members to adopt and use new products and technology, increases financial literacy, deepens and personalizes member relationships, and extends your “people helping people” ethos in a real, meaningful way.

Better still, member education aligns with the credit union mission at its very core. Outstanding member education is you at your essential best, helping members achieve their financial dreams.

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