Recapturing and retaining your wandering depositor base

by The CU Lab

In this episode, we are going to be looking at the ins and outs of recapturing and retaining that ever-growing depositor base from the changing banking landscape to anticipating member needs, and relevant product offerings.

Key Takeaways:

  • [01:02] Banking relationships have really changed dramatically. There are so many competitors in the credit union industry. What we really need to focus on is making sure we are keeping our members engaged.
  • [02:36] The average member has at least 4-6 other relationships besides just the credit union. We need to make sure we are keeping us top of mind.
  • [10:18] A new member is 4 times more likely to leave in the first year than later in the relationship. It is very important to make sure you are getting those new members engaged.

 

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