8 Ways Credit Unions Can Drive Text Messaging Opt-Ins

Wherever you go, you see the same Pavlovian response play out! A person hears a buzz, looks down at their phone, and clicks on a text message. The extreme frequency of this experience is supported by data: The open rate for text messages is a whopping 99%. It’s not surprising that credit unions are seeking ways to leverage this hot trend to drive member engagement and grow their business. Eltropy’s platform brings the power of text messaging to credit unions in a complaint and secure way for multiple use cases — Marketing, Sales, Service, Lending and Collections.

First, however, credit unions must navigate FCC/TCPA compliance. TCPA has defined the rules governing the use of text messaging. In most cases, “express written consent” is required. It’s not difficult to obtain “opt-in” consent if you use the variety of methods at your disposal. Before you start, reassure prospects and members by showing full transparency. Explain what they can expect to receive by opting in and how they can opt out at any time.

To maximize sign-ups, employ a combination of the 8 methods below that you think would work best at your credit union.

1. Text to join using Eltropy: Prospects and members simply text a keyword (e.g., “Join MyCU”) to a short code to opt in for receiving SMS messages. In this workflow, Eltropy tackles the heavy lifting by recording and tracking opt-ins as well as opt-outs. To promote this method, use social media posts, in-branch flyers, electronic flyers, website headers, radio, print or TV ads.
2. Online or mobile banking: Create a pop-up that appears after a member logs on with information about the opt-in program along with name, phone number and disclaimer acceptance fields. As an alternative to a pop-up, insert a CTA button.
3. Your website: Promote text messaging enrollment in three ways. 1. Add a widget where members and prospects can enter their name and mobile phone number and accept TCPA disclaimers. Recommended locations: Next to “Contact Us”, “About us,” “Learn more” or on the homepage. 2. Publish a banner announcement on some of your webpages. 3. Deploy a call-to-action (CTA) button.
4. Applications and forms: In both paper and PDF formats, simply insert a section that asks for name and phone number and acceptance of TCPA disclaimers. Examples include new membership and loan applications as well as service request forms.
5. Email marketing: Launch a campaign that captures the benefits of opting in and provides a link to a web-based enrollment form. For example, members can receive texts with payment reminders or alerts, announcements of new products, or links to educational financial content.
6. In person: At a branch, tabling event or community event, member-facing teams can introduce members and prospects to your text messaging program. Make sure team members are trained so they can extol the benefits of text messaging and answer questions. Use a tablet or a paper form to complete sign-ups.
7. Social media sites: Promote your “text to join” campaign or direct subscribers to a webpage where they can then opt in.
8. Direct mail: Advertise text-to-join in your marketing mailings.

Want to generate your own engagement buzz? Apply these best practices and you will collect a high volume of text messaging opt-ins. Your engagement levels will soar as you communicate with members on their preferred channel. Eltropy’s Text Messaging + Analytics platform helps you meet compliance requirements while delivering a superior member experience. Request a demo to learn how to start text messaging at your credit union today.