Spokane Federal Credit Union Grows Member Engagement with Strategic Link Partner Digital Onboarding
April 1, 2019
In the credit union industry, a new account opening represents an opportunity to either forge a deep relationship or lose money on an underperforming membership. Lacking a proper onboarding process, credit unions often find themselves challenged to recruit new members while keeping current members engaged.
Strategic Link partner, Digital Onboarding, helps credit unions grow engaged and profitable members. Their platform increases conversion and satisfaction rates by guiding members through multi-step processes that would otherwise feel complex and confusing (e.g., adopting online banking, activating debit cards, signing up for direct deposit, etc.). The platform also helps credit unions educate members during conversions, cross sells products, and helps members build their savings.
Spokane Federal Credit Union selected Digital Onboarding to grow engagement with new deposit and loan account holders.
“When a member chooses to bank with Spokane Federal, it’s important to provide personalized guidance to help them get the most out of the relationship,” said Spokane Federal Marketing Director, Susan Cerutti-Jensen. “The Digital Onboarding platform makes it easy for members to adopt account-related services and additional products that will improve their financial lives.”
Javelin Strategy and Research reported that 25 percent of consumers believe that tasks such as enrolling in online banking are complicated. The Financial Brand’s Digital Banking Report showed that new customer attrition rates range from 25 to 40 percent due to suboptimal onboarding processes.
To learn more about Digital Onboarding, or to schedule a demonstration for your team, please contact Northwest Credit Union Association Strategic Partnerships Manager, Kaitlin Ramos. To learn about Strategic Link’s partnership with Digital Onboarding, visit its webpage.