Internet Strategy Consortium
Strategies to Grow the Online Channel
Callahan’s Internet Strategy Consortium is a group of credit unions that cooperatively conduct research to better understand online member expectations and experiences. The credit union website and online banking program are critical channels for member transactions and information. How is your credit union measuring your website performance and identifying evolving needs?
Actionable Research
The Internet Strategy Consortium conducts quarterly online surveys focusing on ways to better meet member needs through the online channel. Member credit unions receive data to better understand their own online member needs and benchmark results with other credit unions. Webinars and research reports provide insight into key findings and ideas for improving online services, through credit union case studies and industry examples.
How well do you know your
online member needs?
- Most members say they are making changes to the way they manage their finances in the current economy, in terms of charging less on their credit cards (49%) and focusing on reducing card balances (46%).
- Member usage and interest in online spending reports (43%), online balance transfers (40%), and online applications (40%) is fairly high.
- Nine-in-ten online members are interested in receiving email from their credit union.
- 49% of online members said they are very likely to apply for a consumer loan online. This interest varied by credit union, ranging from a low of 42% to a high of 65% of online members.
- 57% of online members prefer to get loan application updates via the credit union website, rather than by phone or mail.
