Credit unions’ excellent service has been a catalyst in growing this loan area. Fast auto loan approval and funding have helped develop close relationships between dealerships and credit unions. But that new member often doesn’t feel the warmth of that brilliant service, as all too often, indirect loan recipients are one-and-done members. Unfortunately, converting indirect members into engaged direct members has been difficult.
Credit unions need to make a human connection with single service members to spark them to take the next step and open another account.
Springboard to Deepen Relationships
Consumers today are looking for more than checking accounts and loans from their financial institutions. After over two years of economic upheaval, job uncertainty, and inflation, consumers seek financial institutions’ safety, stability, and security. Credit unions that can offer personalized guidance on financial wellness will be able to deepen relationships and win over new members.
But to do that, credit unions need to have up-to-date information on members’ unique circumstances. They need to ask the correct questions in a caring way to uncover members’ financial details and desires. Then, armed with this information, they can make product recommendations that help members alleviate their financial stress and reach economic goals.
A sales engagement system that enables staff to converse with members in a meaningful and sensitive manner will allow them to get to the heart of a member’s needs. Sophisticated intelligent conversation guides can provide tailored conversations that discover members’ unique needs in an empathetic manner and deliver personal, accurate, and consistent product recommendations to deepen relationships.