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Archive by category: InnovationReturn
Nov 20, 2017
Best Innovation Group (BIG), a credit union innovation catalyst, announced the certification of its Amazon Alexa voice banking skill. Enrichment Federal Credit Union, a $456 million institution based in Oak Ridge, Tennessee, with 42,000 members and 9 offices, has become the first credit union to roll out the Financial Interaction Voice Experience (FIVE) banking skill.
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Aug 23, 2017
In the United States, the average credit union customer is 47 – in Canada, 53. Legacy members are entering a phase of life in which their spending may be more restrained. To continue growing, credit unions must seek new ground: The Millennial consumer.
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Aug 22, 2017
While optimizing value for clients is the primary focus of credit unions, financial survival also requires CUs to generate a certain amount in annual earnings. Debit and credit card interchange revenue usually deliver a sizable chunk of most CUs’ non-interest income. As this is arguably one of the biggest avenues to generate revenue it’s important to keep it coming in, regardless of changes in the financial industry or disruptions caused by technology.
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Aug 18, 2017
As consumers increasingly shop online and pay bills with debit and credit cards, it’s more important than ever for credit unions to improve cardholder experience, providing them swift, easy access to accounts and data anytime, anywhere. For the credit union itself, it’s vital to maintain up-to-date cardholder information in order to ensure members consistently use the credit union’s card for all their payments. It’s a challenge, particularly when competing with institutions that have a far g...
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Aug 17, 2017
Tampa-based Suncoast Credit Union and SetIt Credit are now working together to improve cardholder experience via SetIt’s simple-to-use and secure card management tool.
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Aug 17, 2017
First impressions count, no matter how much you want to believe otherwise. This is true regardless whether you’re talking about huge corporate endeavors or community-level organizations. When your credit union (CU) customers want help accessing your products and services, the frontline staff need to be well-versed ambassadors for your brand who are ready and capable of providing it.
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Jun 14, 2017
More and more purchasing and other financial transactions are moving online, and whether that means working via mobile app or using a desktop computer, it’s a whole new world when it comes to credit cards. For Credit Unions (CUs) to keep pace with the bigger financial players, offering incentives is crucial for getting members to use their cards for checkout processes. The focus on the digital environment requires you to reimagine the traditional card loyalty programs, too, to ensure that the r...
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