Reimagining the Member Experience with Forward-Leaning CRM Growth Strategies

By W.B. King

During a recent webinar hosted by the World Council of Credit Unions (WOCCU), Wendy Albers, senior vice president of Member Experience at Generations Federal Credit Union and Steve Danishevsky, senior program success manager at Solutions Metrix, discussed “Reimagining Member Experience for Future Growth.”

“Credit union leaders consistently navigate a rapidly evolving landscape where diverse future members expect seamless digital experiences. CRM systems and strong digital infrastructures are key to meeting these rising expectations,” said WOCCU Director of Communications Greg Neumann, who moderated the webinar.

Among topics examined were value-driven engagement, growth opportunities, future-ready engagement and retention strategies.

Mounting Expectations

Albers explained that the $800 million San Antonio-based Generations Federal Credit Union, which serves more than 50,000 members at seven branches, recently underwent a successful rebranding. Among challenges before the rebranding were data silos and fragmented systems that limited access into member insights, manual processes that slowed delivery of services and approvals, and dealing with mounting expectations from younger members calling for more automation.

“Convenience is key. Personalization is key,” Albers said. “They [members] are wanting us to provide solutions that are personalized to them and that requires a lot of these solutions that CRM [customer relationship management] can provide…in real-time, personalized strategies so that we can be more targeted and personal to the member we are engaging with…deliver a more seamless experience with us.”

To assist in the rebrand rollout, Generations FCU engaged with the Montreal-based Solutions Metrix, which offers business consulting and CRM implementation services on platforms such as Creatio, Salesforce, Microsoft Dynamics 365 and SugarCRM to replace outdated segregated systems.

“We help credit unions connect the dots between strategy and technology,” Danishevsky said. “On the advisory side, we guide with road maps, best practices and change management to make sure your projects succeed. When it comes to innovation, we bring automation, system integration and no code solutions to life.”

Seamless Interactions

A big part of the rebranding effort focused on elevating member loyalty through deeper engagement, Albers said. Variables included automated onboarding campaigns to improve first-year retention rates, lifecycle-based engagement strategies to ensure that members of all ages receive relevant financial solutions and CRM-driven insights that help team members provide better service.

“[This includes] being able to create the same seamless interaction across any delivery channel and then being more proactive in our service strategies to help us anticipate needs before they arise,” she said. “Again, these were problems we identified that we could solve through a CRM platform. We ensure that the members are adequately welcomed but not bombarded with too much attention from us in those early days.”

Looking ahead, Albers said machine learning integration will enhance targeted campaigns and product recommendations. Artificial intelligence will also provide greater personalization to offer smarter, more customized communication services. This includes telephony and chatbot enhancements to improve self-service capabilities and call center efficiency rates.

“We are still working to implement how we monitor our cross-sales performance but that is going to be a key metric for us…just seeing how deeply we are penetrating the wallet share, if you will, and getting that expansion of the member relationship that leads to loyalty and of course increased retention…member loyalty, long-term relationships that add value to their lives,” she said.