Solutions for Credit Unions: Attract New Members and Keep Them Loyal

As a credit union, you face unique challenges that have only been increased or accelerated as customer demands have changed—due to economic factors, a long-lasting pandemic, technological advances, and more. HSO can help.

To compete with commercial banks—especially the handful of major institutions the majority of households do business with—credit unions must stay in front of conditions and trends that are rapidly changing and difficult to anticipate:

• The changing role of branches from transactional hubs to sources for advice, sales, and services
• The constant push to reduce expenses by streamlining operations and strategically placing branches in areas with growth potential
• Universally growing demand for digital banking, which is no longer a convenience, but a necessity for managing accounts, making payments, transferring money and more
• Overcoming through effective marketing the consumer perception that they do not have the same technology capabilities—like digital and mobile banking—as large banks

Most importantly, it is the mission of any credit union to improve the lives of their members and community, including small businesses are struggling even more in the wake of a global pandemic

Powered by Microsoft Azure and Dynamics 365, HSO’s Solution for Credit Unions are designed to help you better understand and relate to each of your members and gain operational control over sales, service, marketing, and social engagement insights–focusing on the unique needs of credit unions:

• Metrics-driven, new client attraction
• Campaign management
• Improved client retention

HSO’s credit union solution provides full operational control over all aspects of the business while addressing two major concerns for all credit unions, defending against fraud and simplifying the onboarding process, to help accelerate account opening and eliminating duplication of effort. You get:

A 360 degree view of members and prospects

• Understand each member’s financial portfolio and create a more personalized relationship.
• Promote rewards and up-sell through product recommendations while growing your member relationships.
• Have interdepartmental data at your fingertips to provide the best member experience possible.

Pipeline management

• Generate visibility into potential renewals, customer retention and lost business.
• Forecast renewals, new, and net revenue.
• Increase your wallet share by gaining insights through lost opportunities.
• Empower users to identify high probability opportunities through Sales AI.

Marketing automation

• Increase digital presence and brand awareness.
• Easily perform targeted marketing and send personalized offers and messages.
• Track ROI using key metrics and implement referral programs to encourage more business.
• Manage subscription lists for regulatory compliance.

Engagement tracking

• Track activities in-branch and engagements through web pages, emails, and forms.
• Send communications for new promotions, products, rewards redemption and upcoming changes to targeted customers.
• Use Microsoft’s Voice of the Customer to conduct surveys.

Member management

• Never let leads fall through the cracks with integrated online application forms and live chat.
• Seamlessly follow up on incomplete applications and renewals, while recommending alternatives to rejected applications.
• Automate customer on-boarding and other customer journeys.

Reporting & analytics

• Generate complex reports within minutes using ‘Ask a Question’!
• Identify next-gen products based on customer reviews, renewals and sales.
• Reduce the effort of monthly manual report creation.
• Get insights into your data through AI, in specific category outliers, change points, correlation, trends, seasonality, time etc.

A solution packed with features isn’t enough; you need technology to support the processes that are unique to your credit union. The Microsoft Power Platform has the tools – Power Apps, Power BI, and Power Automate –that give you easier access to business intelligence, app development, and app connectivity.

Best of all, the Power Platform not only extends Microsoft 365 and Dynamics 365, but it also integrates with nearly any business application or system, including Salesforce, SAP, Oracle, or credit union point solutions. It enables you to easily build business apps and extend or customize the software solutions you use—in days, not months.