Credit unions have seen exponential growth in their membership as they provide clear value propositions, like lower transfer fees, overdraft fees, and interest rates; personalized service; and higher savings rates.

But the pandemic has created anxiety in member spending habits. How can credit unions regain the momentum they may have lost during this time?

Four simple tools

Whether you want more positive reviews, improved customer satisfaction, increased security, or to turn your website into a machine that generates leads for you, messaging tools have you covered. Since 98% of text messages get opened, let’s dive deeper into how credit unions can leverage text messaging platforms like Podium to create member engagement and retention.

Reviews

Podium’s platform enables credit unions to ask for reviews without ever having face-to-face contact with members. When a credit union has more current reviews than other local competitors, its website will consistently rank more highly in Google searches than the competition.

Credit unions can text members a link asking for a review after a service experience, such as opening an account or qualifying for a loan. Previous credit unions using Podium have seen hundreds of increased positive reviews.

Webchat

People on the go all prefer text messaging over emailing and speaking on the phone. Podium’s Webchat allows members to contact credit unions via text messaging when they need assistance. The simplicity of texting increases customer satisfaction and retention.

This same tool can open the door to new customers because it turns website traffic into lead generation. Potential members can ask questions, which can be answered through real-time communication.

Payments

Receive or send payments and transactions through text messages. Podium’s payments help credit unions to:

• Acquire new customers. Collect initial deposits for accounts opened online.
• Receive fees. Allow customers to pay fees from a credit card.
• Collect on delinquent accounts and past-due loans. Send individual texts to collect or use bulk upload.

Handling payments through text messaging assures transactions are received sooner and in a more secure location, like Podium’s private platform.

Inbox

Credit unions can manage all text messaging conversations coming from the payments tool, reviews across platforms (such as Google or Facebook), and the website chatbox. One seamless platform saves time and improves reach.

The solution

With members and prospects socially distancing, don’t miss a beat with these online tools. Podium’s digital solutions provide a sustainable growth and retention strategy. Learn more about messaging tools from Podium.

JEFF MOSS is senior director of financial institutions at Podium.