How UMassFive College FCU drove 25% direct deposit adoption

Overview

UMassFive College Federal Credit Union (UMassFive), founded in 1967, serves more than 45,000 members across the University of Massachusetts, the Five College System, and over 50 local organizations. With $647 million in assets and six branches, UMassFive is committed to community-based values and fostering deeper member relationships through competitive rates, lower fees, and innovative services.

Challenge

After completing an initial onboarding campaign for new checking accounts, UMassFive found that many members still had not enrolled in direct deposit or eStatements. Without the adoption of these core services, members missed out on convenience and long-term engagement, while the credit union missed opportunities to strengthen relationships.

Solution

UMassFive used the Digital Onboarding engagement platform’s Retargeting Feature to run two automated campaigns:

• One targeting members who had eStatements but not direct deposit
  
• One targeting members with neither service enabled
  

Each campaign included personalized emails and SMS reminders sent five days apart, linking members to microsites with Digital Onboarding widgets:

• Direct Deposit Widget to enable instant enrollment online or provide account details for employer setup
  
• Secure and easy instructions for eStatement enrollment through the online banking portal

It can be difficult to get members to sign up for services when they’ve had their accounts for over a month. With Digital Onboarding, we were able to motivate a sizeable portion of existing checking account holders to adopt direct deposit and eStatements - and it was completely automated.”

‍Craig Boivin, VP ofMarketing

Results

The campaign drove strong adoption results, including:

• 25% of targeted members enrolled in direct deposit
  
• 22% of targeted members enrolled in eStatements
  
• Overall, adoption among new checking account holders increased by 9%‍
  ‍

Impact

The retargeting campaigns enabled UMassFive to convert a significant portion of existing members who had stalled after the initial onboarding period. By making enrollment automated and straightforward, the credit union strengthened engagement, improved convenience, and deepened member relationships.

Building deep member relationships is a key pillar of our strategic plan, and we are thrilled with the results!”

‍Craig Boivin, VP ofMarketing

Conclusion

UMassFive proved that following up after initial onboarding drives meaningful adoption of core services. With Digital Onboarding, the credit union motivated members to take action, improved digital engagement, and furthered its mission to build deep, lasting relationships.