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Rob Triggs, CRM Dynamics Ltd.

5 Benefits of Using a CRM for Credit Unions

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Microsoft Dynamics 365 is a powerful tool that will benefit nearly any business. However, there are certain qualities to the software that make it uniquely designed to benefit Credit Unions. Here are 5 benefits of using a CRM for Credit Unions.

1. Gaining a 360 Degree View in Dashboards

The Financial service is a fast-paced and competitive industry. It is vital that you be able to react in real time to changes in your customer’s needs. This is especially the case in the Credit Union world where institutions need to find ways to distinguish themselves from the larger, legacy banks that serve the same region.

Dynamics 365 gives you a 360-degree view of all your customer’s data. Their accounts, every contact they’ve made with you and will assist you in predicting their needs and informing them of products and services that would benefit them before they are even aware they need them.

2. Better customer service

One way that a Credit Union can distinguish itself from a large bank is in providing responsive customer service.

“The bank” is big and impersonal. A Credit Union is part of the community, there as much to support and serve its customers than to make money off them.

By effectively tracking the many ways that customers interact with you, you’ll have the opportunity to better address the questions and concerns that the customers have. When they fee valued you earn their loyalty.

That is the Credit Union advantage and Microsoft Dynamics 365 provides you with the ability to provide that service.

3. Self-Service FTW!

In today’s business world consumers want to be able to do things themselves, from their phones or other mobile devices. They want to have effective self-serve options.

Dynamics 365’s self-serve capabilities will allow customers to do just that. That reduces the amount of time your staff spends serving customers in tasks that do not require technical knowledge. In turn, you can free up those resources to perform more advanced tasks or to serve customers that require additional support to fulfill their day-to-day banking needs.

As a Credit Union that is vital. You may have less human resources at your disposal. You need to maximize their effectiveness and Dynamics 365 can help you accomplish that.

4. Anticipate customers’ needs

One of the most useful benefits of a CRM for Credit Unions is that it will allow you to anticipate your customer’s needs ahead of time. You can create email reminders that are tied to the specific needs of each customer.

Do you have a couple that are snowbirds? Set up an email reminder that is triggered every time the currency exchange rate is favourable for them. Similarly, those who bought a large amount of foreign currency in a previous year can have alerts sent out to inquire into whether they are interested in travel-specific savings plans.

And, those are just small things. You would also set-up your system to trigger emails that promote RESP's for families with children and that assist working people with retirement planning.

5. Find new customers

The marketing functionality of Dynamics 365 will allow Credit Unions to create dynamic and creative campaigns that can help reach goals that may not seem possible.

But, don’t take our word for it. Instead, look at the award-winning results that Credit Union DUCA had by implementing a Microsoft CRM solution with CRM Dynamics in 2017.

Needing to drastically increase the amount of savings deposited, DUCA turned to CRMD and D365 to find a way to hit their goals. In just 90 days, DUCA was able to generate significantly more leads than in the past and easily hit their revenue targets.

An independent analysis revealed a 20% improvement in the cost of dollar deposit acquisition when compared to the EMSA promotion carried out in June 2017.

CRM Dynamics is uniquely positioned to support Credit Unions in Microsoft Dynamics 365 implementation. We have the experience and specialized staff dedicated to Credit Unions. Why not give us a call?

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