Strategies for Successful E-statement Implementation

A recent study of online credit union members provides insight into member reactions towards e-statements. The study, conducted by credit unions in Callahan's Survey Consortium which do not currently offer e-statements, provides guidance into tactics that could lead to successful adoption rates.

 
 

A recent study of online credit union members provides insight into member reactions towards e-statements. The study, conducted by credit unions in Callahan's Survey Consortium which do not currently offer e-statements, provides guidance into tactics that could lead to successful adoption rates.

The study stated that, almost 70% of the credit union online members reported being likely to sign up for e-statements. The primary benefits that online members perceive for e-statements include easy access/ease of use as well as the lack of paper. Secondary aspects are the ability to do everything online, environmental benefits, and dependability.I

Marketing messages to support an e-statement program should initially stress the ease of use and the features such as statement storage and printing which eliminate a need for paper. Secondary benefits could be used to market e-statements by targeting different groups of members.

Overlapping paper and electronic statements for a particular period of time is a strategy that many credit unions have used to increase trial of e-statements. Credit unions typically offer both for a set time period after which the paper statement is automatically discontinued unless the member intervenes. The study showed that the time period that members want the overlap is fairly short, with the majority satisfied with two to three months of overlap.

 

 

 

Sept. 23, 2002


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