People’s Credit Union wins customers with more convenient online mobile banking services.
Based in Newport, Rhode Island, People’s Credit Union serves over 30,000 members living in Rhode Island, Massachusetts, and Connecticut. The not-for-profit, community-oriented financial institution was founded in 1922 by seven people working at the U.S. Naval Torpedo station. Today the credit union has over $375 million in assets.
People’s Credit Union wanted to attract new customers and retain existing ones with new convenience services. The credit union felt that its website could be a natural new customer recruitment tool, as well as an important upsell and cross-sell sales tool. But they needed an online account opening and lending platform to make it happen.
Bottomline’s Online Account Opening Solution
People’s Credit Union redesigned their website and installed Bottomline Technologies’ Online Account Opening for Consumers solution to connect with their customers and prospects, and satisfy their need for information, products, and convenience. Bottomline makes it simple to apply for an account or conduct a myriad of personal business transactions. The website also features articles on community events, personal finance tips, and advice on avoiding identity theft.
Bottomline’s unique responsive design automatically adapts to the user’s device, presenting a consistent look and feel whether the website visitor logs on from a computer, tablet, or smartphone. Applicants can start, save, and resume applications from any channel.
People’s Credit Union is extremely pleased with the results of their online efforts. Website analytics have found that 80% of visitors are members who navigate directly to online banking, improving their experience, and minimizing call center interactions. The remaining 20% are new visitors searching for information about the bank, who due to good site design, click through to the online application at a rate of .55%. Looking forward, People’s Credit Union plans to leverage Bottomline’s mobile capabilities to address the rapid growth in mobile device usage (growing to 15% of website visits in 2012).
In the Customer’s Own Words
“Before Bottomline, we looked at the online channel as just another vehicle that people could use, but now we’re starting to really pull people to the website to open their accounts. The online channel is absolutely going to be where you have to be to stay in the game.”
Arthur Paul, Marketing Director, People’s Credit Union