How Text Messaging Benefits Credit Unions & Applicants
Adoption of text messaging among credit unions is a testament to the cooperative spirit and shows an institution’s commitment to its member’s interests and overall experience. It’s also not bad for business.
Many credit unions adopt messaging to expedite some of the typical tasks within the loan process that tend to slow an application down, especially when communicating through channels like email, phone, and voicemails, including:
- Requesting a picture of a pay stub for income verification
- Signing disclosures and ancillary docs that loan officers can send to members for digital signatures
- Sending applicants reminders with outstanding tasks
- Discussing the next steps
While business text messaging for some industries, like retail, have already reached a point where it’s required, business text messaging for credit unions is still gaining momentum. The article presents some of the institutions that have found success with business text messaging like Community First Credit Union in Jacksonville, FL and Meridian Trust Federal Credit Union in Cheyenne, Wy. These credit unions have joined the growing list of financial institutions that use Quiq to provide their members with fast, convenient, two-way business messaging services.
Read the full article on CUTimes to learn more about business text messaging for credit unions. If your credit union is looking for a way to streamline the application process, while improving your member’s digital experience, contact Quiq to request a demo or try it yourself.