4 Common Reasons Your Members Switch Banks

September 27, 2021 | Devon Wilson | Marketing

reasons members switch banks

  Part of knowing how to create a successful business continuity plan for credit union member retention comes from the knowledge that we gain from studying what makes your members choose to leave your financial institution for another. So here are some common reasons why your members switch banks. Better Data Protection The COVID pandemic […]

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4 Takeaways from ‘Digital-First Banking Trends Report’

September 20, 2021 | Devon Wilson | Credit Union Solutions

digital first banking

  SilverCloud recently published the “Digital-First Banking Trends Report” (you can download the free report here). There is a ton of insightful information in the report, so we wanted to go through a few of the best takeaways, which include mobile banking, technology adoption, and more. Customer Self-Service SilverCloud reports that the average daily use […]

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5 Benefits of Finance Automation

August 30, 2021 | Devon Wilson | Credit Union Solutions

finance automation

  Finance automation technology can be scaled – it can be all-encompassing, or it can help your credit union increase the efficiency in some processes so your employees can spend more time serving your members. Let’s talk about the five benefits of financial automation. Fewer Errors When automation is done right, it creates fewer errors […]

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Ways Credit Unions Support Members

August 23, 2021 | Devon Wilson | Credit Union Solutions

support members

  Credit unions are unique in that their business model is half bank, half non-profit. Sometimes, the best marketing angle is the most direct one. Here is a list of ways credit unions support members. Best Financial Rates and Opportunities Credit unions as non-profits typically offer better interest rates on loans, savings accounts, CDs and […]

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Credit Unions in a Post-COVID World

July 26, 2021 | Devon Wilson | Credit Union Solutions

credit union post-covid

  March 2020 changed the world. It changed the way we move through our homes, public spaces, and workplaces. It changed how we thought about what defines an office, and a home. And it defined the way we interacted with technology and money as well. So let’s take a look at what credit unions in […]

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Credit Union Leadership & Innovation in 2021 and Beyond

July 19, 2021 | Devon Wilson | Credit Union Solutions

credit union leadership and innovation

  Innovation is often seen through the lens of cutting-edge technology, but the cornerstone of anything innovative is the creativity to start or improve existing ideas and processes. And credit unions across the U.S. were able to grow their membership by 2.8% between year-end 2019 and September 2020. Far from the perception of antiquity that […]

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Tips for Improving Credit Union Member Retention

June 28, 2021 | Devon Wilson | Marketing

member retention

  Acquiring a new credit union member typically costs between $400 and $700, according to CU 2.0. Depending on different estimates, it takes about 2 years for a banking customer to generate enough revenue for your financial institution to cover that initial cost. And with something like 40% of new customers will churn before the […]

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Tips for Re-Evaluating Disaster Recovery Post-COVID

June 21, 2021 | Devon Wilson | Disaster Recovery

disaster recovery post-covid

  Disaster recovery planning is an essential part of every business. But what happens when a disaster strikes that is not only bigger than anything you ever needed to feasibly plan for? And what happens when the disaster is felt on a global scale? Let’s discuss how the COVID-19 pandemic changed the way we think […]

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Big Moves in Mobile Banking

May 24, 2021 | Devon Wilson | Credit Union Solutions

mobile banking

  Mobile banking, a feature that’s been around for years, has suddenly become a primary means for credit union members to carry out as much of their financial activity as possible. Let’s take a look at how mobile banking is succeeding – and the areas that need some work. Winning Features from Top CUs Nerd […]

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Trends in Auto Lending

May 17, 2021 | Devon Wilson | Credit Union Solutions

auto lending

  Today, credit unions are tasked with adapting older or outdated processes and services to a newer market. Add a pandemic to the mix, and you see a surge in online and mobile banking that will be hard to ignore from now on. And auto lending is no different. Here are some trends in auto […]

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