For many Credit Unions, communication with members can be a challenge. Branches may be open to provide information either in-person or over the phone — but members may find those hours inconvenient. Express Credit Union put itself in its members’ shoes and introduced Eltropy’s Text Messaging solution, which facilitates communication around the clock.
Member engagement is critical, especially to Credit Unions, which pride themselves on their close relationships with account holders. Communicating account information is crucial, but sending content is most productive when members engage. While email is an option, they can often go unnoticed for days. Text Messages, however, deliver information quickly and let members respond at their convenience, day or night.
Express recently implemented Eltropy’s Text Messaging solution, and CEO Paul Baudin is pleased with how members’ have received the communication option: “…members are taking the benefit of being able to access [information] and interact 24×7, and in fact, we’ve seen members opening up content at 9, 10 o’clock at night, so we know the it’s allowing them to do business when they want to and where they want to.”
Research shows that most people prefer multi-channel options for interacting with businesses, including financial institutions. Text Messaging is increasingly popular for its immediacy and brevity. Too often, emails are lost in overwhelmed inboxes, and it is difficult for recipients to quickly see what may be urgent — for example, a late bill notification — among all the clutter.
Mobile phone users can easily manage preferences to allow SMS from some senders but not from others. For example, a Credit Union member with a car loan may readily opt-in to receive Text Messages, because the technology’s immediate nature makes them ideally suited for payment reminders.
By offering Text Messaging, Express Credit Union is recognizing that members need multiple channels for communication. It, like a growing number of customer-centric Credit Unions, is providing its members communication flexibility; ultimately members will choose the best solution for their needs, and increasingly, they are choosing Text Messaging.