Membership Retention Credit Union Growth
Attract new members and decrease the loss of current members who search the web for the convenience and efficiency of a web based financial institution.
- The fastest growing segment of people going on-line are today’s youth. These people will form the membership basis of the future. Why not capture them now before another institution does?
- The second fastest growing group on the web are the 55+ segment. Many of these people are retired and have the time to search the web for significant savings and convenience that only the web can offer. Internet availability is especially important to those house-bound individuals who are alone, sick, physically incapacitated, don’t own transportation, etc.
- By providing on-line access to your products & services, you provide the marketing channel necessary to capture the attention of web savvy professionals, the largest group currently using the Internet.
- Retain members who have retired or moved away from your geographic location.
- Promote your web site aggressively and offer online membership eligibility requirements and applications. This is especially important for credit unions that are not open during normal business hours.
- A web site can provide online applications for loans, credit cards, investments, insurance, check orders, etc. to be completed at the members’ convenience.
- Some web sites even offer personal financial planning advice and tax return preparation services.
- Other opportunities abound for adding consumer product purchases by partnering with approved vendors who can be asked to reduce their prices for members or provide a percentage payback to the credit union to reduce the cost of other products or services.
- Some web sites will charge approved vendors to advertise on the credit union web site.