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Credit Union 1
Accelerating Membership Growth
4.6%
Organic membership growth (Q1 & Q2 2024)
5X
Increase in new memberships
1
Context
Credit Union 1 was targeting organic membership growth in an environment where the industry average was only 2.0%. They needed a solution that could help them stand out and attract new members through an optimized digital experience.
2
Goals
- Drive organic membership growth above industry average
- Optimize digital account opening experience
- Reduce friction in the onboarding process
3
Execution
Credit Union 1 optimized their digital account opening by moving high-friction asks like ID verification to later stages in the process. They implemented automated follow-ups to re-engage potential members who had started but not completed their applications, significantly improving conversion rates.
4
Outcomes
- 4.6% organic membership growth — more than 2X the industry average
- 5X increase in new memberships compared to the previous 6 months
"The timeframe for implementing requested changes has been incredibly fast. Cotribute has been instrumental in helping us achieve growth well beyond the industry average."
Todd Gunderson
Chief Executive Officer, Credit Union 1
Chief Executive Officer, Credit Union 1