Strong CU mobile apps are cool because they create time—and happy members. By Bart Scott Sponsored by LSC 
Credit union members live their lives on their mobile devices. Doing so saves them time and—in this on-the-go world—that’s important. Belonging to a credit union with a strong mobile application is like having a time machine in their hands—it gives them back lost seconds, minutes, even hours they would have once spent traveling to and from a branch to handle simple transactions.
- remote deposit – A simple click on a camera phone means not needing to go to an ATM or branch to deposit checks
- ATM locator - so they don’t have to drive around looking for cash when they need it.
- branch locations and hours – There’s nothing more frustrating than rushing to a branch to find out its closed, or there’s been one closer all along.
Think about your members’ needs. In addition to the items listed above, how could an app make their lives easier? Members expect quick answers, often outside of standard business hours. That means more than just being able to check their balance or transfer funds between accounts. Would your members like these features?
- mobile loan request – Using this, your member could start the loan process from anyplace at any time, including while at the car dealership. That certainly increases the odds of them using your loan program as opposed to the dealer’s or that of some random bank.
- loan payment calculator – Would your members like being able to get (while on the go) a good idea of what they’d pay and if they can afford it before they initiate the lending process.
Going Mobile is an Investment in Your own Future It might sound scary, but it’s a proven fact. A recent MagnifyMoney study showed credit unions with the highest digital adoption grew their assets in six months by 3.85 percent. That same data showed lost assets and shrinking memberships for those credit unions with the lowest scores. The truth is most credit unions are well aware they need a mobile app. What usually holds them back is the cost of development and the operational headaches that they perceived would come along with it. But a mobile solution, regardless of the cost, is really an investment in the future of your credit union. The good news is there are affordable platforms out there that can help you create a custom app. You can provide an app to give your members back more time and not break your bottom line in the process. Explore your options and find the right platform at the right cost for you credit union. Bart Scott is marketing communications coordinator for CUES Supplier member LSC, the Illinois Credit Union League service corporation, which offers the affordable, customizable mobile platform, CUMA Light, from CU Mobile Apps®. You may also be interested in reading “Mobile Movers and Shakers” and attending CUES School of IT Leadership, slated for Sept. 27-29 in Charleston, S.C. Get CUES content delivered directly to your iPhone or iPad via the myCUES app. Download before Aug. 30 and we’ll donate $1 to Children’s Miracle Network Hospitals and Credit Unions for Kids, up to $5,000!
