Updates
• The credit union has rolled out e-branch, its online banking and it is working on some fixes. The have seen around 1000 users already and are pushing the initiative through marketing channels.
• Training department put together a video and they already had 17,500 views so far. It is posted on their social media and ads for Facebook.
HMA
• Coopera did a comparison between April 2017 and April 2018 for this HMA.
• Hispanic Membership Growth is 7% for this quarter: 2,219 New Hispanic Member. Total membership is now 12.6% Hispanics
• The credit union keeps bringing younger folks; membership keeps getting younger. The credit union is attracting new immigrants as more Spanish preferring Hispanic are new members. Coopera commented that …show more content…
They want to convert those mobile users and have them use their e-branch. Marketing resources will be devoted to that.
• Hispanic population ratio: Penetration 12.3% of total Field of Membership. The credit union is representative of their field of membership when it comes to Hispanics. The credit union noticed that they have a lot of room to grow. The goal is 1 in 3 people to be members of Idaho Central Credit Union in 2020.
• Lots of members are between 20 and 39 years old. The credit union asked whether this is common with other clients. Coopera said it is common as the family members who are already members bring their children into membership. Also using technology attracts younger generations.
• Spanish-preferring membership continues to grow and outpaces English-preferring. This fact was surprising to the credit union. This continues to be a challenge to the CU when it comes to figure out the right Spanish-speaking staffing.
• The CU has brought 7,958 new Hispanic members in a year. Checking penetration shows trust and loyalty levels from the community. Coopera noted this is unique that it’s not seen in other peer CUs and it is speaks to the trust and loyalty of the community to the credit …show more content…
There is a gap between average deposits for Hispanics, so this indicates an opportunity to attract more deposits from them.
• Loan penetration is at 53.6 for all Hispanics. Delinquency is quite low. Coopera remarked on how good this indicator is. The credit union said the member assistance department helps with collections and work with members to turn delinquent loans around. There are Spanish-speaking collectors.
• Coopera observes engagement in other products. The credit union asked for a comparison with other clients. Coopera offered to send a peer growth study for the credit union to examine.
• Coopera recommended to look into small business owners who may be using their personal accounts to run their business. The credit union noted that there is an opportunity when you look into members with just indirect loans but no other services. The credit union had a question about online banking and whether that includes mobile usage. Coopera will check.
Discussion
• Coopera shared a recent blog post focused on nurturing relationships with small
• The credit union has rolled out e-branch, its online banking and it is working on some fixes. The have seen around 1000 users already and are pushing the initiative through marketing channels.
• Training department put together a video and they already had 17,500 views so far. It is posted on their social media and ads for Facebook.
HMA
• Coopera did a comparison between April 2017 and April 2018 for this HMA.
• Hispanic Membership Growth is 7% for this quarter: 2,219 New Hispanic Member. Total membership is now 12.6% Hispanics
• The credit union keeps bringing younger folks; membership keeps getting younger. The credit union is attracting new immigrants as more Spanish preferring Hispanic are new members. Coopera commented that …show more content…
They want to convert those mobile users and have them use their e-branch. Marketing resources will be devoted to that.
• Hispanic population ratio: Penetration 12.3% of total Field of Membership. The credit union is representative of their field of membership when it comes to Hispanics. The credit union noticed that they have a lot of room to grow. The goal is 1 in 3 people to be members of Idaho Central Credit Union in 2020.
• Lots of members are between 20 and 39 years old. The credit union asked whether this is common with other clients. Coopera said it is common as the family members who are already members bring their children into membership. Also using technology attracts younger generations.
• Spanish-preferring membership continues to grow and outpaces English-preferring. This fact was surprising to the credit union. This continues to be a challenge to the CU when it comes to figure out the right Spanish-speaking staffing.
• The CU has brought 7,958 new Hispanic members in a year. Checking penetration shows trust and loyalty levels from the community. Coopera noted this is unique that it’s not seen in other peer CUs and it is speaks to the trust and loyalty of the community to the credit …show more content…
There is a gap between average deposits for Hispanics, so this indicates an opportunity to attract more deposits from them.
• Loan penetration is at 53.6 for all Hispanics. Delinquency is quite low. Coopera remarked on how good this indicator is. The credit union said the member assistance department helps with collections and work with members to turn delinquent loans around. There are Spanish-speaking collectors.
• Coopera observes engagement in other products. The credit union asked for a comparison with other clients. Coopera offered to send a peer growth study for the credit union to examine.
• Coopera recommended to look into small business owners who may be using their personal accounts to run their business. The credit union noted that there is an opportunity when you look into members with just indirect loans but no other services. The credit union had a question about online banking and whether that includes mobile usage. Coopera will check.
Discussion
• Coopera shared a recent blog post focused on nurturing relationships with small