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Credit Unions, Don’t Be the Last to Know: Why Online Reviews Matter

Oh Credit union. Always so proper and serious. But, hey, it’s time to lighten up and talk about why online reviews matter, even to the most traditional of financial institutions. 

Yes, we know, you’ve been around since the days of chariots and parchment, and you have a reputation as solid as the Rock of Gibraltar. But, guess what ? The world has changed and so has the way people shop for financial services. 

Gone are the days when people would simply walk into their local credit union, ask for a brochure, and blindly trust that it’s the best option for their needs. These days, people do their research, and online reviews are a big part of that research. In fact, a survey by BrightLocal found that 84% of people trust online reviews as much as a personal recommendation, So, if your credit union isn’t paying attention to what people are saying about you online, you could be missing out on a whole lot of business. 

Why should credit unions care about what people are saying about them online? Simple – positive reviews attract new members, and negative reviews can drive them away. And, let’s be real, credit unions can’t afford to lose any more members, what with all the competition out there.

So, what kind of things are people saying about credit unions in their online reviews? Well, let’s take a look at a few examples: 

“The staff at this credit union are amazing! They went above and beyond to help me with my account and answered all of my questions thoroughly. I highly recommend this credit union to anyone looking for a new financial institution.”

This review highlights the importance of having knowledgeable and friendly staff. If a credit union can deliver that, they’re on the right track to earning positive online reviews and attracting new members. 

“I had a terrible experience at this credit union. The staff was rude and unhelpful, and I was left feeling frustrated and disappointed. I would not recommend this credit union to anyone.”

Ouch! This review highlights the importance of having a friendly and helpful staff. If a credit union can’t provide that, they’ll be sure to earn negative reviews and drive away potential new members.

Though credit unions are newbie’s in the review world, they can start with basic steps. Starting by responding to reviews, stirring encouragement to leave reviews, addressing negative reviews and providing excellent customer service. Giving a great service is a must, obvious mention but rarely followed. If a credit union provides excellent customer service, they’ll be sure to earn positive reviews and attract new members.

In conclusion, online reviews matter to credit unions. They give credit unions a chance to attract new members, keep the ones they already have, and improve their overall reputation. So, for those credit unions out there who think they’re above all this online review nonsense, it’s time to take a step back and take a closer look at what people are saying about you. Because, let’s face it, if you don’t, someone else will.

Amit Desai

Marketing & communications professional with 25+ years of experience in product development and marketing, growth hacking, strategic marketing, consumer insight, brand & product strategy, interactive & digital marketing, creative development, public relations, media planning & buying, direct-marketing - across top FMCG / Consumer Durables / Retail and Financial Services Categories and Brands.

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