Accelerate Liquidity: Top Deposit-Growth Strategies for Credit Unions

12/09/24 • 12 min

Did you know that a 2023 NCUA report revealed that deposit growth at credit unions slowed to just 2.2%. As rising interest rates and intense competition put pressure on liquidity, 34% of marketers are prioritizing strategies to grow deposits and strengthen member relationships.

In this episode, we explore actionable tactics to address these challenges and drive deposit growth effectively.

Download the Credit Union Benchmark Report
To empower credit unions with data-driven insights, BlastPoint’s Credit Union Member Deposits Benchmark Report reveals essential trends and benchmarks that can inform strategies for boosting deposits and accelerating liquidity. Download the report today to see how your credit union compares and discover proven methods for optimizing deposit growth.

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Visit our website to learn more about what BlastPoint can do for your business.
If you want to learn more and speak with our specialist, please contact us to schedule a demo today!

In this episode, we explore actionable tactics to address these challenges and drive deposit growth effectively.

🎧 Subscribe to our channel for more insights and strategies to navigate the evolving financial landscape!

Visit our website to learn more about what BlastPoint can do for your business.
If you want to learn more and speak with our specialist, please contact us to schedule a demo today!

Previous Episode

Unlocking Customer Value: The Game-Changing Power of Income Data in Service Provision

In this episode, we explore the challenges and opportunities in utilizing modeled income data to drive impact and support vulnerable populations. Learn how this data helps identify and target underserved communities while overcoming its inherent limitations. Plus, stay tuned for upcoming episodes where we’ll dive into breaking down barriers for low-income customers, personalized outreach strategies, and predictive tools like the Energy Burden Index to forecast payment challenges. Don’t miss out on this insightful journey into data-driven solutions for financial inclusion!

Visit our website at https://blastpoint.com/ to learn more about what BlastPoint can do for your business.
If you want to learn more and speak with our specialist, please contact us to schedule a demo today!

Next Episode

The Crucial Link: How Energy Burden and Engagement Impact Customer Satisfaction

Welcome to the second episode of the BlastPoint Deep Dive Podcast! In this episode, we'll delve into Energy burden, the percentage of household income spent on energy costs, which is more than just a financial metric—it’s a window into the struggles many utility customers face daily. High energy burden disproportionately affects low-income households, leading to difficult trade-offs between energy bills and essential needs like food, healthcare, and education. For utility companies, addressing energy burden isn’t just a matter of social responsibility—it’s directly tied to customer satisfaction (CSAT) and engagement. High-burden households often demonstrate significantly different behaviors, such as increased call center usage and web activity, signaling their search for relief and solutions. These behaviors offer invaluable insights into their needs and pain points, presenting utilities with an opportunity to intervene and improve not only customer satisfaction but also operational efficiency.

By understanding the correlation between energy burden, engagement patterns, and CSAT scores, utilities can unlock targeted strategies that reduce stress for high-burden customers while fostering loyalty and long-term satisfaction.

To showcase this in action, BlastPoint’s real-world analysis reveals that high energy burdens often lead to:
- Increased call center usage
- More frequent website visits
- Lower customer satisfaction scores

Visit our website at https://blastpoint.com/ to learn how AI can unlock the full potential of customer intelligence.
If you want to learn more and speak with our specialist, please contact us to schedule a demo today!