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CU Snapshot

 Apr '18Mar '18
# of CUs5,7245,727
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings82.9%81.5%
Loan Delinq.0.8%0.8%

         Credit Union Indicators

Set Realistic Mobile Adoption Goals

Prioritize three initiatives to maximize the benefits.

Members increasingly use digital and mobile channels to conduct their banking, and some credit unions have found the mobile channel to be a leading source of member engagement.

At the same time, other credit unions remain skeptical about promoting mobile banking and are unsure how to set and achieve realistic service adoption goals.

To maximize the benefits gained from mobile banking adoption, credit unions should prioritize three initiatives:

1. Product investment. The alignment of mobile banking with member lifestyles can help drive adoption, as can offering in-demand services such as mobile deposit and person-to-person payments.

2. Multichannel marketing. This approach enables credit unions to reach members wherever and whenever they need banking services.

3. Employee engagement. Because front-line employees serve as one of the most influential sources of information about new services, leveraging them as evangelizers is essential for driving increased mobile banking adoption.

These three initiatives will empower your credit union to serve its members throughout the four stages of the adoption lifecycle: awareness, discovery, enrollment, and use.

JOHN MOON is Fiserv's director of consumer adoption marketing.

(Via news.cuna.org)