account access has the potential to be a powerful tool for enhancing
member satisfaction and retaining members. A recent survey of credit
union website users by Callahan & Associates found a high percentage
visit the website for online account access (96%). These online users
report using their online account access more frequently than any
other credit union service channel.
account access represents a significant touchpoint for these credit
union members, as the majority report accessing their account (69%)
at least twice per week, and a significant proportion (40%) report
accessing it every other day.
with this account access is fairly high, as seven in ten online
account users report being very satisfied, based on a five point
scale where 5 is very satisfied and 1 is not at all satisfied. None
of the other service channels used are rated this high by online
members. Additionally, online account access appears to have a positive
impact on the member's overall usage of credit union's services
as more than half (54%) say their credit union participation has
increased since they began using this system.
capabilities are clearly a critical element of the online member's
relationship with their credit union, even more important for these
e-members than the physical branch. When asked if their credit union
usage would change if the member moved to an area where they did
not have easy access to the credit union branch, the vast majority
of respondents would not leave their credit union. In fact, 13%
say they already live outside their credit union's branch network.
Many e-members believe that their current usage wouldn't change
(19%) or wouldn't change much (40%), while only 12% would expect
to eliminate certain services. Only 7% say they would leave their