Akron, OH (November 20, 2023) - Buckeye State Credit Union, ranked as a 2023 Best Employer in Ohio by Crain’s Cleveland, selected the Digital Onboarding engagement platform to ensure members learn about all the products and services available to them. The platform also makes it easy for members to enroll in services and accept product offers.
Declining branch visits and talent shortages made it challenging for staff to educate and assist every member. It’s a nationwide issue. The ability to attract qualified talent has become a top concern for 63 percent of credit union executives, according to Cornerstone Advisors. The accelerated pace toward digital transformation is making the problem more acute.
“Our best defense against competition is delivering a best-in-class experience that members tell their friends about,” said Daniel Perry, Senior Vice President and Chief Strategy Officer, Buckeye State Credit Union. “The Digital Onboarding platform ensures that members understand what we offer and turn to us first when key milestone moments occur and needs arise. We can now make it easy for people to adopt banking services and products that make their lives better. That will drive more referrals, which is key to growth.”
Credit unions have 90 days to engage new members. Many new account openers find it challenging to adopt banking services, so they close their accounts. According to the Digital Banking Report, the top 100 financial institutions have a 25-40 percent first-year attrition rate, losing $400 in revenue from each customer or member.
The Digital Onboarding engagement platform gives members access to digital widgets and tools that make it easier to enroll in services and accept product offers. Members can enroll in direct deposit in seconds online, update their default payment methods at multiple merchants simultaneously, sign up for eStatements without logging in, and more.
“Buckeye State Credit Union is wise to prioritize a best-in-class member experience,” said Jennifer Packard, Chief Product Officer, Digital Onboarding. “New account openers need guidance, and even existing members may not be aware of everything a credit union offers. We are thrilled to help Buckeye State Credit Union educate members, improve people’s financial lives, and drive more referrals!”
About Buckeye State Credit Union
Buckeye State Credit Union is a financial services provider based in Akron, OH. Buckeye State was founded in 1933 as Akron Postal Employees Credit Union and eventually evolved into the credit union it is today. It serves a field of membership that includes Lake, Cuyahoga, Summit, Stark, Wayne, Ashland, Medina, and Richland counties. For additional information, visit https://www.buckeyecu.org.
About Digital Onboarding
The Digital Onboarding engagement platform helps banks and credit unions turn account openers into fully engaged and profitable relationships. With personalized messages, microsites, and self-service enrollment tools, the platform helps people enroll in direct deposit and update default payment methods, adopt eStatements, retrieve account and member numbers, open additional products, and more. For additional information, visit https://www.digitalonboarding.com.