CUNA is now America’s Credit Unions. A stronger voice to advance the credit union industry.
By Ashley LaBombard, Marketing Associate, Sharetec September 19, 2023
Knowing how to manage member relationships comprehensively and efficiently is essential for the success of credit unions. By utilizing a 360-member view approach, credit unions will experience enhanced member satisfaction, improved service delivery and better decision-making. To achieve these three desired outcomes, many components must be present.
What keeps members satisfied with their financial institution? Tailored products and services, of course! This involves providing a variety of communication outlets to fit each member’s preferences, reviewing members’ interaction history, capturing member feedback and prioritizing member privacy.
Targeting the right member with the right service can be a challenge. The components that help credit unions improve service delivery are collecting member information, monitoring engagement across channels and integrating data from various credit union systems and channels.
As a credit union, it’s important to offer relevant services to each individual member. For example, a member with an active mortgage with their credit union shouldn’t receive an email with a “first-time mortgage” special offer. Keeping track of member account histories and behavioral patterns and identifying cross-selling and upselling opportunities based on their financial needs and preferences leads to better decision-making for credit unions.
Since credit unions implementing a 360-member view can better anticipate member needs, provide personalized services and build long-lasting relationships, they are more likely to experience improved member loyalty, increased retention rates and enhanced growth opportunities.
For credit unions to win in this highly competitive and dynamic space, they need a core processing partner that can support a 360-member view. Sharetec provides a web-based, robust, highly customizable system that is continuously evolving to nurture credit union growth. Sharetec strives to make basic processing solutions smarter and easier.
Connect with Sharetec and schedule a demo today!
Sharetec is a cutting-edge technology company providing the latest in core processing software. Sharetec’s robust, yet easy-to-use, web-based core includes everything needed to run credit union operations and create an effective digital experience for members.