insights from e-scan - credit union national association€¦ · © 2018 credit union national...

© 2018 Credit Union National Association. All rights reserved.

Insights from E-Scan

© 2018 Credit Union National Association. All rights reserved.

Two Trends

• Deliver an easy, engaging consumer experience.

• Modernize your branch strategy.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

Deliver an easy, engaging consumer experience.

© 2018 Credit Union National Association. All rights reserved.

Consumers on Experience

© 2018 Credit Union National Association. All rights reserved.

Easy Does It

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

The Importance of Experience

© 2018 Credit Union National Association. All rights reserved.

What We Think About Experiences

© 2018 Credit Union National Association. All rights reserved.

What They Think About Experiences

© 2018 Credit Union National Association. All rights reserved.

MT – More Mobile, Less Branch

• Transactions told the story.

•Mobile marketing; mobile lending.

• Increase e-engaged.

•Members understand rationale; they caused it.

•Convenience, investments, profits back to members.

© 2018 Credit Union National Association. All rights reserved.

A Walk Through a Journey

© 2018 Credit Union National Association. All rights reserved.

What Processes Have You Mapped?

© 2018 Credit Union National Association. All rights reserved.

Common Experiences to Map

• Auto Loan – In-House

• Indirect Auto Loan

• Consumer Loan; Credit Card

• Mortgage; HELOC

• Business Loan; Credit Card

• New Membership

• New Checking, Savings, CD

• Investment; Insurance

• Teller Transaction

• Drive-Through Lane

• ATM; Kiosk; Touch Screen

• Contact Center

• CU Website; CU Mobile App

• CU Bill Pay; CU Financial Ed

• Digital Marketing: Click, Look, and Book

© 2018 Credit Union National Association. All rights reserved.

Common Members to Map

• College students; Gen Z.

• Millennials.

• First time auto purchase.

• First time home purchase.

• Two-income family.

• Stay-at-home parent.

• Single parent.

• Retired members.

• Single professional.

• Business owner.

• Business manager.

• Tech-savvy.

• Tech-cautious.

• Digital native.

• Distant member; out-of-region.

© 2018 Credit Union National Association. All rights reserved.

Experience Drives Results

© 2018 Credit Union National Association. All rights reserved.

Experience Drives Results

© 2018 Credit Union National Association. All rights reserved.

Experiences Drive Word of Mouth

© 2018 Credit Union National Association. All rights reserved.

CA – Share the Love and $

• Email as many as you want with a web form.

• CU sends email with a promo code.

• Checking, loans, VISA, CDs, youth savings.

• $50 to you and friend.

• Referrals and WOM are driving growth.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

Focus on Functional Values First

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

TX – POPin Video Banking

• Interactive, face-to-face mobile.

•Anywhere, anything, exception is cash.

•Reach members, moment of need, branchless experience.

• Exciting experience; connected to CU.

•Video presence training.

© 2018 Credit Union National Association. All rights reserved.

Strategic Questions – Experience

• How easy is it for members to engage with your CU?

• What member processes have you mapped?

• Are you designing your experiences around members’ functional values?

© 2018 Credit Union National Association. All rights reserved.

Modernize your branch strategy.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

First Touch Success

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

KS – Branches Can Set You Apart

• MXP is the primary differentiator.

• Blend digital and branching strategies.

• Branches are for connection, engagement, presence.

• Define the branch purpose: advisory over transaction.

• Lending out of the branch; to e-loans team.

© 2018 Credit Union National Association. All rights reserved.

OR – Branches Drive Loyalty

• Focus on loyalty drives strategic growth (4X growth in 10 years).

• NPS; speed of delivery.

• Human help drives service satisfaction.

• ITMs; central staffing; extended hours; ATMs.

• “You can talk to us, but you don’t have to.”

• 61% prefer live video; 28% drive up; 11% walk in.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

WY – Location, Location, Location

• Postcard in the community.

• Traffic studies.

• Physical room for growth; is the community growing?

• The right side of town.

• Quiet rooms; pods; logos; mission.

• Get the compliments.

© 2018 Credit Union National Association. All rights reserved.

© 2018 Credit Union National Association. All rights reserved.

TX – Neighborhood Branch

• Smaller footprint; high tech; more locations.

•Members like tech, but want to touch the CU.

•60% of walk-in traffic is assisted electronically.

•Optimize costs, FTE, service, efficiencies.

•Much member demand.

© 2018 Credit Union National Association. All rights reserved.

Strategic Questions – Branches

• Have you defined the purpose of your branches? Relationships, experiences, connection, engagement?

• Are your branches equipped with the right mix of technology and people?

• Are you measuring the effectiveness and ease of branch delivery?

© 2018 Credit Union National Association. All rights reserved.

Two Trends

• Deliver an easy, engaging consumer experience.

• Modernize your branch strategy.

© 2018 Credit Union National Association. All rights reserved.

Jeff Rendel, Certified Speaking Professional

jeff@jeffrendel.com

www.jeffrendel.com

951.340.3770