September 8, 2020

Partnerships Strengthen Credit Unions Bonds with Members

Eltropy Blog


In our business as well as our personal lives, relationships are key to our success. If we partner with those with similar ideals and values, we will prosper. When we select partners who work toward favorable outcomes, the result is mutually beneficial. 

Strategic business partnerships offer financial institutions the opportunity to increase their customer and member bases, and improve their processes. Choosing the right partner helps Credit Unions in particular better serve their members.

Strategic partnerships help both sides.  Credit unions often choose partners that provide cost-saving solutions that not only save them money but also make them more efficient, thereby boosting the value of their services to members, Partners can help outfit branches with technology that shortens lines, opens lines of communication and welcomes more demographics. 

Eltropy is proud to be one of those partners, and has been endorsed by more than 80% of U.S. State Credit Union Leagues. We also have partners of our own, including Fiserv, Symitar, Avtex and others. By harnessing the strengths and abilities of others, we have increased innovation and solved complex challenges. 

For example, Credit Unions are increasingly hearing from their members that they want to use Text Messaging to communicate with their financial institutions. To meet that need, Eltropy partnered with the omnichannel marketing firm Prisma Campaigns. Eltropy uses AI to analyze 24 data points within message conversations to provide behavioral analytics that can help Credit Unions decide when and how to market products and services to their customers. Prisma Campaigns leverages customer data so financial services companies can create targeted, personalized marketing campaigns on digital and non-digital channels. The partner’s solution helps Credit Unions leverage online banking, mobile banking, text, and SMS channels to launch targeted marketing campaigns.

Strategic partnerships benefit everyone: the Credit Unions, their business partners, their employees and their members. Credit Unions can expand their relevance and increase membership. Those with a reputation for fostering innovative partnerships also attract the best and brightest employees, who look for development opportunities that allow them to deepen their experience and expose themselves to new perspectives and expertise.

Ties between complementary businesses nurtures collaboration and stability. For Credit Unions, ideal partners share the core values of trustworthiness, resourcefulness and helping others succeed. Combining forces helps Credit Unions provide services and solutions that help their members become more successful.

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