Small Vs. Large In Online Retention Rates
The new study, "Online Marketing: Effectiveness and Impact on the Credit Union Industry," found that credit unions are placing as much emphasis on online marketing to retain members as to sell products. Yet, results indicated almost three-quarters of smaller credit unions did not notice a decrease in turnover among their online members. In contrast, the majority of larger credit unions report lower turnover. "This could be a result of larger credit unions having more experience offering online services and, therefore, a larger time period to evaluate the results," said CUNA Mutual's Marc Gagne.