The time has come for community banks and credit unions to win accountholders back from big banks. You can unlock success and profitability at your financial institution by providing accountholders with the right product mix that fits their needs. Effective rewards checking programs, mobile checking accounts and stronger accountholder relationships will lead to increased accountholder acquisition and retention.
Tags: what counts reward checking, Pinnacle Financial Strategies, Debit Card Programs, accountholder acquisition, rewards checking program, mobile checking accounts, accountholder retention
What do accountholders really want in terms of rewards programs? Two things: cash and customer service. According to the Q4 National Banking Opinion Poll, 61% of Americans stated they would switch to a new institution if it provided them with a cash back rewards program. But what good are those programs if an institution can’t back them up with the kind of customer service that gives accountholders peace of mind when opening a rewards checking account?
Tags: Pinnacle, cash back rewards, cash back reward programs, what counts reward checking, Reward Programs
More than 2 million accounts shifted to local banks and credit unions in the first quarter of 2010. What’s motivating this trend, and how can you take advantage of the opportunity? Clearly, there is an unprecedented opportunity for smart-thinking community banks and credit unions to take advantage of these trends and capture significant market share. The key for local banks and credit unions is to strengthen their community connections by building on their unique qualities … while adding the programs and products that today’s consumers seek. Local FIs that can develop and market the products that truly meet the wants and needs of the people in their community – and that can do so while maintaining their hometown culture and values – will have a winning combination that will attract and retain consumers for years to come. These community banks and credit unions will position themselves as not just the local bank of choice, but as leaders in the industry.
Tags: local banks, what counts reward checking, consumer trend to local banks
