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How to streamline your credit union's new member onboarding process

How to streamline your credit union's new member onboarding process | EasySend blog
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5 minutes

The onboarding process is critical to the success of your credit union. New members need to be welcomed, oriented to your products and services, and given the opportunity to establish a relationship with a credit union representative.

There are a few key things you can do to streamline the credit union onboarding process and make it more efficient.

1. Define your credit union's goals for the onboarding process.

What do you want new members to accomplish during their first few weeks or months with your credit union? Having a clear goal in mind will help you determine the best way to structure your credit union's onboarding process.

2. Simplify the paperwork.

New members should not have to wade through a mountain of paperwork when they join your credit union. Keep the forms and applications simple and easy to understand.

3.Digitize data intake

One of the crucial first steps in credit union membership is data collection. This can be a time-consuming process if done manually. To streamline new member onboarding, consider digitizing data intake.

There are several advantages to digital data intake: 

  • It's fast and efficient
  • Data is less likely to be lost or misplaced
  • Can be done from anywhere, at any time
  • Data can be validated in real-time
  • It's eco-friendly

4. Replace PDFs and simple web forms with interactive experiences

Collecting new member data via PDF forms, even if they are fillable PDFs,  can be a frustrating experience. PDFs can be difficult to navigate, especially on mobile devices. PDFs can't be personalized, and don't offer real-time feedback and validation. This results in a poor user experience and can cause potential members to abandon the process entirely.

5. Get members involved in the credit union right away. 

New members should feel like they are part of the credit union from day one. One way to do this is to involve them in the credit union's decision-making process. For example, you can ask new members to vote on which charity your credit union should support or which new product or service they would like to see offered.

6. Follow up with new members after they join.

 It's important to stay in touch with new members after they join your credit union. Check in with them periodically to see how they are doing and if they have any questions or concerns. You can also use this time to upsell them on additional products and services that your credit union offers.

new member onboarding in credit unions | EasySend blog

7. Implement an automated workflow

An automated workflow can save credit unions a significant amount of time and resources. Automating key steps in the new member onboarding process can help credit unions keep track of progress, ensure accuracy, and free up staff to focus on other tasks.

8. Communicate with new members regularly

After a new member joins your credit union, it's important to stay in touch. Sending regular communications can help credit unions stay top of mind and build relationships with new members. Additionally, credit unions can use these communications to promote products and services, and drive membership engagement.

9. Use data to customize the onboarding process

Once you have collected new member data,  you can use it to customize the onboarding process. By segmenting new members based on data, credit unions can create personalized experiences that are more likely to result in long-term membership.

10. Provide multiple channels for support

During the onboarding process, credit unions should provide new members with multiple channels for support. This could include phone, email, chat, or in-person support. By providing new members with multiple channels for support, credit unions can ensure that they are able to answer any questions and resolve any issues quickly and efficiently.

11. Evaluate and improve the process regularly

The credit union onboarding process should be constantly evaluated and improved. By regularly evaluating the process, credit unions can identify any areas that need improvement and make the necessary changes. Additionally, credit unions can use data to track the success of the onboarding process and ensure that new members are having a positive experience.

The credit union onboarding process is critical to the success of your credit union. There are a few key things you can do to streamline the process: digitize data intake, replace PDFs with interactive experiences, implement an automated workflow, use a CRM to track progress, communicate with new members regularly, use data to customize the onboarding process, provide multiple channels for support, and evaluate and improve the process regularly. By following these tips, you can ensure that your credit union is providing a positive onboarding experience for new members.

By following these tips, you can streamline your credit union's new member onboarding process and make it more efficient. Welcome new members to your credit union and help them get the most out of their membership.

Vera Smirnoff
Vera Smirnoff

Vera Smirnoff is the demand generation manager at EasySend. She covers digital transformation in insurance and banking and the latest trends in InsurTech and digital customer experience.