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Subscription Services Fashion a New Membership Structure

Credit unions could disrupt financial services if they adopted strategies from the new membership economy.

By Heather Anderson | Updated on March 24, 2016
Heather AndersonI pay a stranger $20 a month to tell me what to wear, and I’ve never received so many compliments.

I signed up for Stitch Fix, a service you’ve probably seen advertised on Facebook and other social media channels if you purchase clothing online.

Stitch Fix sends me a box of five to six new clothing items each month selected by Charrie, the personal stylist assigned to me. When I signed up, I completed a long survey that asked detailed questions about my wardrobe needs. For example, the survey asked if I work from home or at an office, and what I do for a living. Not only did this tell Cherrie I need more casual clothes than business attire, it also signaled that as a journalist, I can be more fashion-forward with my business clothing than if I were the CEO of a credit union.

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