Boston, MA (October 10, 2023) - Legacy Credit Union, The Official Credit Union of the University of Alabama Birmingham, selected the Digital Onboarding adoption platform to ensure new account openers have a good first experience and can easily enroll in services like direct deposit and recurring card payments.
Historically, the credit union relied on generic mailers and emails to motivate account openers to activate their new accounts. With the University of Alabama at Birmingham being the largest employer in the state, the credit union caters to students, university staff, hospital staff, and the Greater Birmingham community. Its members have unique needs, and the credit union knew it could achieve better results with a personalized approach.
“Generic letters and basic emails do not motivate new account openers to engage with the credit union fully,” said Leia Ragland, Assistant Vice President, Marketing and Business Development, Legacy Credit Union. “We selected the Digital Onboarding adoption platform because members can enroll in direct deposit online in seconds and make our card their default payment method at their favorite merchants. We can now deliver highly personalized onboarding journeys for every member and see the results in real-time. It is the ideal solution for credit unions focused on maximizing organic growth!”
The Digital Banking Report’s Account Opening and Onboarding Benchmarking Study showed that 25 to 40 percent of new checking accounts are closed within the first year. Driving early engagement is the key to building long-lasting relationships. Today’s members demand personalized digital communications and tools that eliminate the friction associated with new member onboarding processes.
“Communicating with members is not the same as helping them,” said Jennifer Packard, Chief Product Officer, Digital Onboarding. “Credit unions must ensure that it is easy for account openers to adopt banking services if they want to make their advertising investments pay off. With personalized, digital journeys that include self-service enrollment tools, Legacy Credit Union can deliver a best-in-class onboarding experience, and we are thrilled to partner with them!”
“We do not want to have to file requests with our data team every time we want to launch a campaign,” Ragland said. “The Digital Onboarding platform lets us easily spot opportunities to deepen engagement and launch targeted campaigns without waiting for our requests to get prioritized. With its relational data model and advanced targeting capabilities, the Digital Onboarding platform will help us seize new opportunities immediately and improve success rates.”
About Legacy Credit Union
Legacy was chartered in 1955 as University Federal Credit Union. Legacy currently operates nine full-service branches and serves more than 39,000 members in the following Alabama counties: Jefferson, Shelby, Bibb, Chilton, Walker, Blount, and St. Clair. For more information visit: https://www.legacycreditunion.com.
About Digital Onboarding
The Digital Onboarding adoption 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.