3 Ways Financial Guidance Improves the Credit Union Member Experience

September 24, 2021

Have you noticed a disconnect between the amazing, personal member experience provided in person at your branches and the digital experience that’s currently offered on your website? 

Your members are looking to you for answers at life’s biggest moments – whether they are saving for a home or getting ready to buy one, deciding if they should buy or lease their next car, or planning for retirement. And for most of your members, this journey will take them online to look for answers. 

The member experience is the sum of all the touch points someone has with your Credit Union.

People have grown accustomed to getting the information they are looking for online in a couple of clicks, and they crave interactive and personalized experiences to help them navigate and simplify complex topics like their finances.

It’s no longer enough to rely on the goodwill that your members experience during their on-site visits. Not only have credit unions have been dropping in customer satisfaction ratings over the last three years, but one of the contributing reasons for this past year’s decline was that members were 2% less satisfied with credit union websites

So, truth time: Are you delivering a digital member experience that adds value or does it fall flat?

Hurdles to Achieving an Amazing Online Member Experience 

Your Credit Union is more than likely an incredible resource for your community and the members that you serve but we've seen a few key challenges that most Credit Unions need to overcome to complete the Member Experience.

Credit Unions are member-owned - The people matter!

Of course, this is great for relationship-building and brand loyalty because Credit Unions are member-first and have policies and perks that reflect that close-knit relationship, that’s what helps set them apart from large banks.

The problem: Translating the caring, personalized approach into a digital environment can be difficult, if next to impossible.

Credit Unions have smaller marketing budgets

Large banks, aggregators, and fintechs are competing for the same eyeballs online. They’re banking on the fact that they’ll turn up high in organic keyword searches.

The problem: Competing as a leading authority for personal finance topics is expensive.

Credit Unions are not technology companies

While it would be nice to dream up a cool new tool for your site and have a team craft it from scratch, that’s just not feasible. Your tech team is lean and scrappy, but new builds and updates might not make it to the top of their priority list. 

The problem: Building new technology in-house and juggling internal resources means some things need to wait.

The Solution: Digital Financial Guidance for your members

It’s great that your members are satisfied with your competitive rates and top-notch customer service. Financial Guidance tools can help bring that level of satisfaction to your entire digital experience. Here’s how:

Financial Guidance tools are an amazing way to provide personalized answers at scale

Everyone has a different set of financial circumstances, making it nearly impossible to create content that caters to every situation. However there is an answer... financial calculators can, in fact, get the job done by providing an interactive experience that addresses thousands of member’s unique circumstances with a single tool. 

Financial Guidance tools help drive traffic and generate qualified leads

Want to promote a new high-yield savings account, or does your auto lending division need a boost? You can launch financial guidance tools for your top products and be up and running in no time. Members will be happy to share their contact information to do some number-crunching and get the answers they seek. And then your team can be ready to follow-up and be of further service.

A highly rated partner means no tech hassles

Even if you’ve been wanting to upgrade the outdated technology on your site, you just don’t have the technical resources to make it happen. That fact probably won’t change anytime soon either, which is why you should find a partner and get it done. Chimney's tools are fully customizable to your brand, require no coding whatsoever, and you never have to worry about maintenance because it’s all done for you.

Financial Guidance tools improve the Credit Union member experience by giving your site an interactive and modern solution to show off.

Providing answers to your members means that they’ll come to recognize your site as a trusted resource.

Read a few specific examples of how we work with Credit Unions here on our Customer Story page.

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