Eltropy Partners with NWCUA to Bring Text Messaging to More than 180 Northwest Credit Unions
Open rates on text messages are surging; credit unions have a big opportunity for member engagement.
Look around you — everyone is attached to their mobile phones. The result is a text messaging revolution that has transformed the way humans communicate. It’s a once-in-a-generation revolution that is now permeating the business world. Nine out of 10 consumers prefer texts when communicating with businesses. And with a 98 percent open rate on texts, businesses have all the incentive to jump on the text messaging bandwagon.
Credit unions are already feeling the pressure to join this revolution. But how exactly can they begin to use text messaging to drive member engagement?
The three big challenges credit unions face while adopting text messaging are:
- Compliance and security – FCC/TCPA regulations;
- IT integrations – integrating text messaging into core systems like Symitar Episys;
- Business Intelligence – knowing whether text messaging even works for them.
This is where Eltropy comes in. Eltropy provides credit unions a secure and compliant way to leverage Text Messaging + Analytics and deliver a superior member experience.
“Partnering with NWCUA marks a milestone in Eltropy’s quest to serve credit unions and their members,” Eltropy’s CEO Ashish Garg said. “We are big believers in the intimate connections that credit unions make with their members, and we are committed to helping CUs leverage text messaging for making these connections deeper while delivering a better member experience.”
Eltropy is currently engaged with the marketing, sales, service, collections, and lending teams at several credit unions, enabling them to leverage the power of text messaging.
“Thanks, Eltropy, for being an excellent partner to help us increase sales through digitally transformative channels while creating ease-of-use for members and prospects,” said Technology Credit Union, AVP of Marketing Hemali Gajaria.
The numbers also define Eltropy’s impact. For example, working with Eltropy, a California-based credit union has achieved an ROI of 10x with a payback period of less than two months and a 500 percent improvement in member engagement. Eltropy-powered text messages have had an 18 percent click-through rate, compared with 3.3 percent over emails on an average.
To show credit unions how they can adopt text messaging, NWCUA and Eltropy will co-host a live webinar, scheduled for Nov. 8, 10-11 a.m. PST. To register, click here. By attending this webinar, you will learn how to:
- Leverage the engagement and high response rates of text messaging to improve member experience;
- Receive real-time analytics on member engagement and know the best times to call;
- Remove obstacles to adopting text messaging at your credit union (e.g., FCC/TCPA compliance and integration into core system).
To learn more about Eltropy, please contact Corina Ruiz, Strategic Partnerships Manager, NWCUA at [email protected].