You have better response tracking ability to tell who is responding to your messages. My bet is that you will also get a better response rate than by sending out a snail mail piece-I know mine goes right into the trash. Goodwill from members for helping with their financial management

On the operations side, your imagination is the limit for gaining loyalty by providing your members with valuable notices such as: mortgage rate alerts when a rate has reached a certain level; credit card and account balance alerts; bounced checks; direct deposit and bill payment notifications. Building a Personal Member Relationship You can build a personal relationship using e-mail–my relationships with credit union executives via CUES Tech Port were proof of this. Credit unions need to be consistently out "in front" of their members with meaningful information at a minimum of once a month to have any impact. E-newsletters and Credit Unions I find it interesting that none of the large "brick and mortar" bank players – Bank of America, Wells Fargo nor Citibank – offer customers an electronic newsletter (at least via their Web site). The well-known online banks-NetBank and Virtual Bank don't offer electronic newsletters either. NetBank does offer a very informative "What's New" section within its Web site – a very good idea. In fact, NetBank is currently promoting its "e-Notice" ability-check it out at this link: http://www.netbank.com/about_whatsnew.htm. Are electronic newsletters a credit union phenomenon? Maybe. As the recipient of many credit union e-newsletters-I think they are a very effective way of communicating what is going on and keeping members informed. Here is my "laundry list" of e-newsletter characteristics that tend to make me pay attention as a credit union member: * Those giving me summarized "current events"-not fluff or filler. * Those specifically telling me how I can learn more about a particular service. * I sometimes like to browse past newsletters and appreciate it when they're archived on a credit union's Web site. * If you don't have a "What's New" section on your Web site, tell me what's new since the last newsletter you sent to me. Thanks. I like staying informed. * Make it simple for me to opt-out of receiving your e-newsletter. * Make it easy for me to also read online. PDF files are certainly fine-but if you want to use an HTML format- use a "big print" model. * If you know my preferences, target me specifically. Remember Pentagon's previous football e-mail I already mentioned. * Deals you have negotiated with local vendors for services or community events. * Don't forget links to your privacy and "legal" language. It's the fine print, but legally, it's important. E-mail List Management Now, you do need to be prepared if you are going to start a member e-mail program. Your Internet banking and core vendors should be able to provide you with a wealth of "how to" information and suggestions. There are also several vendors specializing in e-mail strategy who can help. Before you start, make sure you thoroughly consider these questions: * What will be your process for developing your initial e-mail list? * When you capture an e-mail address, how will you disclose usage to comply with privacy regulations? * Where will you maintain your e-mail list? * Who at your credit union will be responsible for maintaining the list? * How will the list be maintained? According to some statistics, 33% of U.S. households will be banking online by 2005. That's a big market to market to. Meanwhile, a November 2001 Grant Thornton survey of over 5,400 community banks found that 20% are now sending broadcast e-mails and targeted electronic messages to customers. Credit unions shouldn't wait to begin fine-tuning e-mail response strategies and procedures. This is quickly becoming a standard and routine expected business communication "way of life" with your members.