Member Gateways, LLC

Description

Imagine the opportunity to build a virtual credit union from scratch. Better yet, would you like to be able to build a credit union with products, pricing, delivery channels and support alternatives directly targeted at a specific demographic or psychographic segment of your field of membership? Consider it a subsidiary or branch operation of your credit union but make it special for what ever group you build it for? Drive SEM generated leads to this new virtual branch built to specifically meet the needs of that marketing effort? Build a virtual solution that gives you the flexibility to compete with ING for the saver segment, or meet the special needs of older members, women or small business owners? The permutations are endless, valuable and essential to the growth of new membership and depth of relationship with current members. What are we doing at this stage? We are just starting to build a series of templates that can be used by individual partner CUs as the basis for their own designs. We are leveraging the collective intellect of the group to give a leg up to any of us adopting this strategy. If any of us want to build a unique virtual delivery channel to serve to, let’s say, serve, savers, they can use our shared work product as a starting point. Since this work is out here on our blog, they can even ask for our help and new ideas as they refine their solution. What we are doing at this stage is meant in no way to produce the final look and feel for any single group, but rather to be the seeds for the more definitive work to come and be performed by an individual partner or collectively. A side benefit is that we can begin to identify, within these start-up templates, opportunities for our strategic partners to be part of the solution. How can GSG, CFS, Experion or CU Realty be integrated into what we are building? Can Co-operative Payroll or CUMA be part of the virtual credit union product or service offerings? Another key consideration is the perceived value of your virtual branch as a place to build a social network among the targeted group. That’s exactly what Zopa is doing for us. If you can build that perception of added value, other possible business partners in the internet environment will want to have access to your network for their products and services or vice-versa be willing to bring their network volume to your site, as possible new members. ( See the article about young Seattle professionals forming a network) Where do we start? I suggest with a blank flip chart, or better yet blank blog page. Who are we building this virtual credit union for? The list is endless: women; Gen Y; retired or laid-off SEG employees; savers; investors; teachers; specific SEGs; geographic locations; members with bad credit, no credit or great credit, merged credit union members, etc., etc, etc. Pick one and let your imagination run wild but keep moving onto the next step, business process design.

Products & services

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