The loyalty that exists between credit unions and their members is unmatched in the financial services industry. Credit unions are all about relationships. In fact, a 2016 Gallup study shows that 52% of all credit union members are actively engaged with their institutions, compared to just 17% for national bank customers.
Finding ways to further connect is key to future success, and credit unions that embrace the application of experiences powered by artificial intelligence technologies in marketing efforts have an unprecedented opportunity to further fortify those relationships.
Well-implemented, intuitive and interactive solutions can help credit unions drill down to valuable insight about their members' core values, habits and aspirations, creating the opportunity to build on the already deep loyalty they share with their members. While banks use personalization to push product promotions, credit unions may be more inclined to use it for education or service – and only for surface offers if they are clearly in the member's interest. Having the right technology and processes is key to ensuring an optimized member experience that gets results.
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