Why credit unions are adopting texting in record numbers
7SHARES
The growth in credit unions adopting 2-way texting technology has never been higher.
The key driver of texting adoption is the simple need to effectively communicate with members. But it’s where the texting is being used in credit unions that is most telling. Typically, credit unions will implement the technology within various business units and tailor the system to their particular needs.
One such example is using two-way business texting to communicate with members who have missed loan payments to help reduce delinquencies.
This was the initial use-case for Baylor Health Care System Credit Union that used texting to help minimize delinquencies and saw success in all categories, including driving down their over-60-day delinquency numbers by 25% across 60 days.