Branded Phone Calls: Arkansas FCU's Members Are Answering

While many Americans have admitted they can’t live without their smartphones, seven in 10 consumers miss legitimate calls because they fear an unknown or unrecognized number that appears on their screen is a scam or nuisance robocall, according to a recent TransUnion Research survey.

This consumer fear has created a challenging problem for all companies, including credit unions that need to engage with their members every day.

Michael Howe, SVP of IT infrastructure and operations at the $2.3 billion Arkansas Federal Credit Union (AFCU) in Little Rock, began to see this issue develop recently across the credit union’s operations. As the largest credit union in the state, AFCU’s 400 employees operate 20 branches that serve more than 151,000 members.

“Most of our calls originate from our primary number that we published, but some of our individual phones are set to dial out using a direct number, so people don’t know that number,” Howe said. “And some people may not even know our main number when we call.”

According to research from the Seattle-based Hiya, a voice security platform, businesses are being hurt by their inability to connect with customers via the phone. Half of U.S. professional employees reported a negative financial impact as a result of being unable to connect with customers or prospects via the phone and 42% said they lost customers or a potential deal due to an inability to connect by phone, according to Hiya’s survey that interviewed more than 2,000 business professionals.

“We wanted to come up with a way to brand our calls, so when we call our members, they know it’s Arkansas Federal Credit Union,” Howe said.

Following its research, AFCU decided to partner with the Little Rock-based First Orion’s INFORM solution. The company delivers branded calls to subscribers on all major U.S. carriers. Through First Orion’s customer portal, businesses can also manage their phone numbers and use advanced analytics to optimize their calling programs.

In addition to displaying the Arkansas Federal Credit Union name on a smartphone screen, the call display also can show what credit union department is calling so that members know why AFCU is calling.

As a result of using INFORM since June 2023, the credit union said it has seen its call decline rate decrease by 21% while its engagement rate has increased by 11% with members. The engagement rate means the call was answered by a member and the call lasted for 60 seconds or more.

“It’s been working great,” Howe said. “We really didn’t make a marketing push to let our members know that this was coming. We just kind of let it roll out to see what the reaction would be. We’ve gotten quite a few [member] comments like, ‘Hey, I’ve never seen this. How does this work?’ So we gave information to our employees to explain to members how this was happening. And members have been very receptive to it.”

The TransUnion Research survey of 1,517 American adult consumers conducted in June 2023 showed that they would be likely to answer calls from known businesses if the mobile phone display shows the company name and logo. What’s more, 56% of consumers said they would view a brand more favorably if they added their name and logo to the mobile phone display. The INFORM solution also provides companies the option of displaying their logos.

“Arkansas Federal is dedicated to making a difference in the financial lives of our members, and being able to reach our members by phone plays a pivotal role in that commitment,” AFCU President/CEO Rodney Showmar said. “By branding our calls, we confirm the authenticity of our call for our members, which paves the way for more meaningful and constructive conversations. We’re excited to be early adopters of this technology and provide an enhanced relationship for our 150,000 members.”