Credit Union Promotions To Increase eStatement Adoption – Part 2 of 2

September 16, 2019

The biggest obstacle to promoting credit union eStatement adoption and convincing members to enroll is knowing how to properly address their needs, attitudes and preconceived knowledge. This is why the most effective promotional campaigns focus on respectfully educating members about eStatements, helping them shift their attitude in a positive manner, and reassuring them that everything they need in paper statements can be found in eStatements as well. 

Take a look at some successful approaches that have been adopted by credit unions nationwide:

Incentives (Freebies & Promotions)

Let’s face it, freebies and prizes are extremely popular with the majority of consumers. Some financial institutions give away small, personalized prizes such as umbrellas, flash drives, mugs or even free checkbooks to those who switch to eStatements.

Sustainability Approach

This strategy is more effective than you might think because it also helps your brand leave a positive mark on your members and community. Pushing for more environmentally-friendly services invites members to join you in your efforts to improve the environment. 

While this approach is more motivating for some people and not motivating at all for others, there is still another angle you can address to help the latter form a positive attitude toward going green. Removing paper statements helps members cut down on clutter and also reduces the risk of identity theft. 

Tie up these efforts with your CSR by offering to plant trees for each member who switches to eStatements. This type of promotion works exceptionally well during environment-related holidays such as Earth Day in April.

Educational Angle

The first question you should answer is whether or not customers are even aware that you offer eStatements. Advertise the program on the back flap of your printed statement envelopes so they’re difficult to miss. Develop in-branch posters and encourage Member Service Representatives to talk to clients about it in a casual manner. 

Addressing Their Needs

One of the biggest fears that members have, particularly those who aren’t familiar with eStatements, is that the latter won’t have the information that they’re used to seeing in paper statements. Designing your eStatements to look like the printed version is a great way to address this concern. 

Reassure your members that the only change they should expect is that they should now receive their statements much sooner compared to the paper version, that they can view it using any device, and that the statements are safely stored and archived for quick review whenever they need it. Soon enough, they will appreciate how easy it is to access these important documents in a few clicks compared to going through stacks of files.

Whatever you decide in order to promote eStatements to your credit union members, make sure to include an internal educational campaign for your employees as well. If they confidently know the benefits of eStatements, they’ll be ready to promote its adoption among members. You could also launch an internal incentive program for staff who successfully encourage members to sign up for eStatements!

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