Other Online Services--Surveys, Seminar and More

Credit unions are starting to use the Internet to learn from and to educate their members. Online surveys are a great way to learn about your online members and collect actionable data. The newest way that credit unions are providing service to membersis thorugh online education about topics including home buying, retirement services, investments and more.

 
 

This article was excerpted from Section 5 of Callahan's 2002 Credit Union Internet Strategies Research Report.

Credit unions are starting to use the Internet to both learn from and to educate their members. The Callahan Survey focused on two technologies--online member surveys and online seminars.

Online surveying is an ideal method for collecting actionable data from credit union members in a fast, cost-effective way. Unlike the annual paper-based membership surveys that can take three to six months from conception to results, credit unions online can gather enough responses for analysis in a few days or even hours. Credit unions are using the Internet to test what their members want before they launch new initiatives or marketing messages.

The Callahan Internet Strategies questionnaire measured the level of online surveying occurring now among credit unions. Of survey respondents, 31 percent (73 credit unions) are already surveying their members online an average of two times per year. Ninety-three credit unions have plans to survey their membership online within the year. Together, these two groups suggest that almost 70 percent of credit unions will be utilizing this method of tracking member needs within a year.

Larger credit unions have taken the lead in adopting this technology with over 60 percent of credit unions over $500 million already surveying their members online. However, as Graph 42 illustrates, within a year the smaller credit unions will be catching up. Almost half of each asset-based peer group will be conducting online surveys within one year with 95 percent of the largest credit unions doing so.

Another Internet technology credit unions are slowly adopting is online education. Currently, only a tiny fraction of survey respondents, less than 4 percent, offer some type of online seminars. However, within the year, this number will grow five fold with 46 credit unions indicating their intention to begin online seminars.

 

 

 

April 8, 2002


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