Eltropy, a text messaging-based platform that enables credit unions to communicate with members via text, announced it experienced a 1,200% growth in credit union clientele in 2019.
Contracts included credit unions spanning across a variety sizes:
- $1B+ AUM Credit Unions = 30%
- $100M – $1B AUM Credit Unions = 40%
- <$100M AUM Credit Unions =30%
Eltropy’s CEO and co-founder Ashish Garg said, “I am very pleased with Eltropy’s rapid growth over the course of 2019 thanks to our team’s tireless commitment and perseverance. By proving to credit unions that Eltropy is fully committed to helping them leverage text messaging to deepen those connections with members, we have become a trusted partner and look forward to continuing to grow as a company to better serve our customers.”
In addition to the number of credit union contracts signed, Eltropy received several industry recognitions for the quality of its product and commitment to the credit union industry. Accolades included being chosen by the Credit Union National Association (CUNA) Strategic Services as the best text messaging solution for credit unions.
“In addition to an unmatched feature set, an impressive list of integrations with credit union systems and a desire to focus their business solely on credit unions, Eltropy provides an effective way to communicate with members in a secure and compliant manner,” said Eric Gelly, president of CUNA Strategic Services.
Other honors included being chosen as a finalist for MetLife Open Innovation Programme’s collab 3.0 EMEA and being named as the “Best Credit Union Solution” at the Northwest Credit Union Association’s (NWCUA) MAXX Convention.
NWCUA’s vice president of strategic resources Jason Smith said, “We all know the power of text messaging and that makes it an integral part of credit unions’ communication with members. I’ve observed several rapid implementations this year and been impressed with Eltropy’s immense value in helping those credit unions effectively engage their members, which also increases overall profitability. This is a powerful solution that is making a lasting mark on the credit union industry.”
Garg emphasized the importance for Eltropy to remain committed to serving the entire industry, regardless of a credit union’s asset size. By the end of 2020, he aims to be able to call more than 100 credit unions Eltropy customers.
“Eltropy is committed to the credit union movement as a whole. Whether they are large, medium or small, we are driven to helping all credit unions of all sizes” he said.
Eltropy enables Financial Institutions to digitally engage in a secure and compliant way. Using our world-class digital communications platform, Credit Unions, Banks, Debt Collectors, Insurance Companies, Lenders and FinTechs can improve operations, engagement and productivity. Eltropy also integrates with IT systems, such as Symitar and Corelation, and uses Analytics to provide member engagement insights. For more information about Eltropy, please visit eltropy.com.