MemberCONNECT Generates Income at No Cost to the CU
Are you looking for a product that will provide your members with protection while generating income for the credit union? MemberCONNECT® could be your answer, and it’s free. MemberCONNECT is a direct-marketed financial services program with the core products of Accidental Death &Dismemberment Insurance, Life Insurance, Auto Insurance, and the Medicare Suite Program designed to help your credit union compete.
How does it work?
MemberCONNECT employs marketing models to ensure the right offer goes to the right member at the right time. Using a multi-channel system, members choose their preferred delivery method for service and support online, by phone, or face-to-face (local agents for auto and homeowners insurance). MemberCONNECT ensures a sophisticated marketing tool through member segmentation and program efficiency.
What are its benefits?
MemberCONNECT builds reliable non-interest income at no cost to the credit union. It’s a proven way to deal with declining ROA and requires little to no staff support. Also, included is an Executive Membership View which provides a demographic profile of your membership, including distributions and comparisons to national averages such as age, income, marital status, and home ownership.
What if you already have MemberCONNECT?
You can still earn more income using low-pressure cross-selling.
- Website: Place a link from your website to the link(s) provided by CUNA Mutual so your members can get information online
- Newsletter: Place an article/information in your monthly or quarterly newsletter
- Point of Sale/Lobby: Place flyers in your lobby promoting the MemberCONNECT products available to your members
- Educate Your Staff: CUNA Mutual provides online training and easy-to-reference guides to educate your staff on your MemberCONNECT offering
MemberCONNECT is an easy, no-cost product to get your members protected and your credit union earning more income. Call your CUNA Mutual Group or Missouri Credit Union Association field representative for more details or to get started.
This article was brought to you by the MCUA Office of Small Credit Unions