Top Credit Union Marketing Trends: Personalized Member Experiences

Using Data to Create Personalized Member Experiences

Part one of our credit union marketing trends series explores the use of data and AI to create personalized member experiences. Many credit unions have begun implementing customized services to meet members’ growing demand for tailored financial solutions, strengthening relationships by addressing each member’s unique needs. Data-driven personalization offers an effective way to create meaningful interactions that drive loyalty and improve member satisfaction.

Leveraging Data for Personalization

Today’s members expect services tailored to their specific needs, and credit unions are stepping up by using data to fuel individualized marketing strategies. A 2021 McKinsey survey found that 71% of consumers expect companies to deliver personalization and 76% percent get frustrated when it is missing. This means offering personalized loan options, wealth management plans, and retirement strategies based on each member’s unique financial goals and behaviors.

With big data and AI, credit unions can gain a deep understanding of member preferences, behaviors, and needs. By harnessing this data, credit unions can craft targeted marketing campaigns, services, and products that speak directly to individual consumer needs. This individualization creates a more engaging and relevant experience that members will remember, ultimately enhancing the member experience while building loyalty. CUInsights further breaks down the importance of credit union personalization in this informative article. Plus, explore more examples of how credit unions are using data and AI for personalization in CU Management’s article, “How Credit Unions are Personalizing Member Experiences and Financial Literacy for All Generations.”

AI Personalization In Mobile Banking

BMO’s mobile banking app was ranked #1 in Insider Intelligence Rankings for effectively harnessing the power of data and AI to tailor the mobile banking experience to each member’s habits. With over 20 personalized insights members never have to worry about what’s going on with their money. Here are just a few of the ways BMO has leveraged data and AI in its mobile app:

Their Cash Track feature uses AI forecasting based on account trends to alert members when their account may run out of money within the next seven days to help avoid overdraft fees.

Regular service provider payment tracking alerts members of increases in regular payments such as phone or cable bills so they’ll never be caught off guard.

Categorized spending makes budgeting easy by alerting members if they have spent more in one category than is normal.

Work with Vibrant Brands to Leverage Data-Driven Personalization

At Vibrant Brands, we help credit unions harness the power of data to develop personalized marketing strategies. We enable credit unions to build meaningful connections and stand out in the competitive market through targeted, data-driven campaigns. Contact us today to see how we can enhance your credit union’s personalization strategies. In the meantime check out our case studies to see how we’ve helped credit unions like yours.