Quick Start 2025 Guide
Your Credit Union’s Guide to Growth, Efficiency, Intelligence, and Empowerment
Quick Start 2025 Guide
To help credit unions plan for a year of growth efficiency, intelligence, and empowerment, THRIVE has curated this guide to provide your credit union with resources to give you a head start on the new year. This guide brings actionable insight and tools in the following three critical areas;
Growth
Efficiency
Intelligence & Empowerment
Leverage competitive insights to re-acquire and retain your members in key areas like mortgages, auto loans, and credit cards.
AI is no longer a distant technology; it’s here, and it’s transforming credit unions. Get ready for Generative AI with your top questions answered.
The true power of data lies in how it’s used. We explore how to get actionable insights into the hands of your leadership, empowering them to make data-driven decisions.
Growth
This is one of the top 5 goals of credit unions in 2025.
Here are a few quick and easy ways to jumpstart your growth.
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Re-acquisition from the competition
Insight: Identify Actual competition from your ACH File in Real Estate/Auto/Credit Card.
Actions: Compare the credit union's offerings to the competition's, then create your re-acquisition efforts. Promote the additional $ the member will have over the life of the loan when they switch to the credit union.
Bonus insight: Get your credit card in front of your members before Black Friday.
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Increase engagement with personalized insights on member spend
Insight: Identify who your member's top retailers are.
Action: Increase Credit/Debit Card usage with a rewards program on where your members spend.
Bonus insight: The retailers your members use will tell you how your members perceive value. Consider Walmart vs Nordstrom.
Early warning on members close to defaulting
Insight: Identify your members who are using By Now Pay Later (BNPL).
Action: See how many members are close to their existing card limit and have increased BNPL usage. What members would benefit from a Credit Union "intervention" in financial counseling?
Want more?
To get a comprehensive look at these and more growth strategies, click on the button below
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Efficiency
Efficiency isn't about working harder—it's about working smarter. Integrating AI and automation tools can streamline your operations, cutting costs and freeing up your team to focus on higher-value tasks.
Here are the top 5 questions being asked about using Gen AI - And the answers!
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We thought so. Click the button to access a consolidated version to share with leaders and the Board. ​
Intelligence & Empowerment
​One of the largest obstacles to leveraging any emerging technology is getting leaders to use it. This may be just one more item on a long to-do list that stays low on the priority list.
A substantial hurdle is the need for more intelligence/information/insights in the hands of credit union leaders and the inaction resulting from this knowledge.
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Example:
A credit union has an uncomfortably low satisfaction score on the call center performance. THRIVE partners to help uncover the data needed to take action. Call center transaction data is accessed. The assumption is that there are abundant transactions from members calling in to check or transfer balances. The data shows that account transfers/balances were not in the top 5 transactions. Most transactions were for card disputes. Further research revealed that members were calling in to dispute a transaction on their card, but also because the card had been frozen because the phone number on the account was a landline and no longer in service.Within a few swift actions, the credit union implemented new procedures to improve the accuracy of the phone numbers on record and provided direct access to card services to manage disputes.
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Taking on organizational pains provides a win-win for everyone and helps propel the use of insights and action for significant impact.
How does my credit union ....
learn how to understand the use of knowledge/insights/reports by your credit union and the steps you can take to improve this, click the button below to access the Intelligence & Empowerment resource.