We’re getting several emails about adding Opt-In forms to Credit Union websites in response to Reg E. At this time, we are asking everyone to sit tight. We suggest you read up on what CU*Answers and our partners, such as Xtend, are preparing in response to Reg E. There is information online in the CU*Answers Kitchen. Additional information is presented in a recorded webinar at Ondemand.cuanswers.com. We are also preparing marketing collateral for your to use in statements, e-statements, e-Info, in your lobby and on your website. In the end, members will be able to opt-in via It’s Me 247 Online Banking. We would expect more information to be announced at Leadership Conference. We know this is a large and pressing concern for Credit Unions. But rest assured, CU*Answers is working on it and will have a solution well within the time frame.
Update: Some marketing collaterals have been published.
Please feel free to contact us with any further questions.
Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, announces today that it has launched its E-Info member communication service for three beta credit unions. The launch culminated development work by teams from two CUSOs: Xtend and CU*Answers. The It’s Me 247 home banking and Web Services development teams from CU*Answers worked closely with the Member Reach team from Xtend to take E-Info from concept to reality.
“Very simply put, E-Info is the delivery of content to e-statement members that comes as close as possible to content that is delivered to members inside their statement envelopes,” says Xtend President Scott Collins. “Many members have embraced electronic statements and newsletters as their preferred correspondence with their credit union. We are taking that a step further by presenting marketing content to the member on their way to view their e-statements, similar to tri-folds and hard-copy newsletters stuffed inside the envelopes with printed statements.”
The service is offered in two different forms. The first is what the CUSO calls In Your Face – the enewsletter or marketing piece is presented to the member when they click to view their e-statement. The second is being called a Teaser because the member is presented with a pop-up window after selecting the e-statement link and can click the banner for the full collateral piece. Collins believes that both formats will be popular with credit unions and members. He notes, “Electronic members are used to being marketed to in a different way and our credit union partners are excited about reaching them in as many ways as possible. Its up to the credit union to decide whether it’s In Your Face or Teaser will be most effective for their marketing plan.”
Participating in this initial release are First Trust Credit Union (Michigan City, IN), Focus Credit Union (Wauwatosa, WI), and Western Districts Members Credit Union (Grand Rapids, MI).
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From the CU*Answers Newsstand.
Mike Escudero, a Filene 30 Under 30 member, makes an interesting observation about Credit Union web site design:
We only design our sites for existing members. Not a bad idea, as our number one mission is to serve members, but here’s the thing. We started tracking Web traffic at my credit union recently and found that people were really only visiting our site to log into Online Banking to check account balances, pay bills and move money around. Virtually no one was visiting our site to learn about accounts.
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Here is a snippet to the It’s Me 247 Online Banking Demo badge that links to the demo url. Read More »
