- Do these new members look different?
- Do they use different products?
- Do new members want different things?
In short, this research uncovers a number of mundane and not-so-mundane things about the credit union member of the future. For those concerned with membership growth, this report may uncover potential strategies and tactics for attracting new members in today’s changing competitive environment.
Comments
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Great report. Useful in many ways.
One thing I noticed was the “convenience” paradox. Most people only use branches once a month or less, but people say they want more of them. Odd..click here
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The convenience paradox was indeed one of the juciest findings in the report. Conveience is important to consumers when choosing a financial institution, but not in the day-to-day activities of using their financial institution. So, the key seems to be find the right level of convenience channel and signaling convenience in creative ways.
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Very useful report. The paradox between how people feel about branches and how they actually use them is quite interesting. It looks like people only want the perception of convenience.
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I wasn’t able to find the report footnoted on page 18, “Making Membership Meaningful” by Laura Brooks. Can you tell me how I can find this?
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You are spot on! I am a Market Research Analyst for one of the largest credit unions in the nation and I come across the convenience paradox everyday. We are a full service credit union that provides so many ways for our members to do their banking. It’s to a point where they never need to ever step foot in any of our branches. I guess people still prefer human contact over added convenience using technology.
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