Remember the last time you got your credit union statement, grinned, and high-fived the nearest human? No? Oh well. We tried.
But seriously, let’s talk about credit union statements. You have to send them to your members. Your members don’t have to read them. Many don’t.
On the other hand, many do read them. And, come tax time—or when they’re doing their best impression of responsible stewards of their own financial wellbeing—they’ll give them a little more energy.
Here’s how to wow your members when that time comes. Get your high-fiving hands ready!
Start with Good Design
There are certain guidelines that dictate what you can and can’t put on your credit union statements.
“Good design” is subjective, of course. The world is filled with karaoke singers, spray-painted VW buses, and kindergarteners’ crayon scribbles on their parents’ fridges. That’s all art, though—we’re talking about design. We’re talking functionality with the sweet, sweet caress of aesthetics.
Your credit union statements should be simple, uncluttered, and easy to read. If you want to throw in your brand colors, that’s a nice touch.
Nobody wants to read statements that look like they were just spit out of a machine with no regard to human sensibilities. If it’s all jumbled numbers and boxes with the same line weights, your statement will look awful. No self-respecting credit union member is going to spend their time trying to parse that mess.
Follow Up with Relevant Offers
Do statements need to be entirely about finances and transaction history? Well, not exactly, no.
If you want to get the word out about an important service or option for your members, your statements are a fine place to put them. You can even sort offers by member segments, so that some members get mortgage refinance options, and others can hear about your certificates of deposit.
By including non-statement material on statements, you incentivize members to look through all the documents. Plus, your marketing team will love you.
Is That a Coupon?
You can include whatever kind of promotional materials you want to include on your statements. It doesn’t have to be advertisement for your credit union—you could offer your members $5 a family-size pizza at the local shop. The idea is that you provide value to your members where possible.
You can keep your members engaged (and appreciative) by including other discounts, promotions, or offers in your community. By including opportunities outside the credit union, you accomplish two things:
- You keep your members engaged with your statements and the value they provide
- You encourage your members to stay engaged with their local community
A rising tide lifts all ships. By supporting local businesses and people, you can increase your presence as a valued pillar of the community.
Once More, for the People in the Back!
We’re still just spit-balling here—there are of course other ways to keep your members engaged with your credit union statements. Still, three big, easy targets are right here:
- Send simple, vibrant, good-looking statements
If people want to look, then let them look. If you’ve got it, flaunt it!
- Stay in front of your members with relevant marketing materials
We’re not saying you have to sell them a car, but if you can help them finance one, you might as well let them know.
- Provide greater value
Hah! As if giving them an accurate, timely, perfectly-compliant statement isn’t enough. Well, fine.
Now, if you’d like to learn more about how you can incorporate relevant offers in your credit union statements, follow the links below!