Why is a Mobile App So Important To Your Credit Union?

Created by
Andrew Duncan
July 9, 2019
Why is a mobile app so important to your credit union?

Mobile engagement with members is no longer a nice optional extra - especially among younger members who are quickly becoming the life and blood of your Credit Union. Life is mobile for a new generation of members and increasingly, it’s not just the new generation – it’s everyone. “Record numbers of older people are embracing smart and social technology, with a quarter of over 75s using tablet computers.” Not only therefore is mobile technology essential in order to engage with your younger members but it is also now the preferred method of communication for a much wider audience. Statistics continue to show an increasing number of adults who claim that their mobile phone is their most missed device. More specifically to this industry, it is estimated that by 2020, 80% of all banking transactions will be completed via a mobile app, which is already the UK’s number 1 way to bank.

Mobile is where people are spending their time. People are using mobile apps for everything now: whether it’s ordering their weekly shopping, booking a restaurant, ordering a taxi, communicating with friends or managing their finances. It is clear that mobile has changed how people communicate across all industries and the Credit Union world is by no means an exception. Expectations are increasing and it is essential that credit unions become part of this mobile revolution, particularly where lending is concerned.

 Growth of Banking on a Mobile App | Source: bba.org.uk
What can a mobile app do for your credit union?
  • 24/7 balance view
  • Gives your members access to their account details when and where it suits them
  • Transfer money between accounts
  • Access to your credit union’s website & social media channels
  • Communicate directly via the app
  • Make payments

Opportunities are vast with mobile technology and as it evolves so does your app. Credit unions who bypass the option of a mobile app are missing a vital trick.

The CU Soar mobile app

CU Soar allows you to achieve even more with an engaging user interface as well as an easy to use content management system (CMS) which allows you to update and maintain your app, without relying on a third party.The CMS is accessible remotely on a laptop - meaning it can be managed from any location by any allocated administrator. Using the app dashboard is as simple as uploading content to Facebook or Microsoft Word. As well as basic functions the CU Soar mobile app allows you to:

  • Proactively drive loan growth and membership engagement.
  • Send credit control communications.
  • Marketing campaigns.
  • Attract new members.
  • Send personalised & group messages and alerts.
  • Build credibility with younger generation.
  • Manage your members.
  • Keep members’ data safe and secure.
  • Help to grow the Credit Union movement, by educating and encouraging membership.
  • Save money and resources from being wasted on less effective communication methods.
  • Give members easy access to your social media channels and website.

The CU Soar app is branded to your credit union, works on iOS and Android phones and integrates with any back-office banking platform. CUSoar is an affordable, easy to use mobile app that your Credit Union members are looking for now.

Get in touch now.

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