Affinity Plus sees significant increase in member usage and online ratings as credit union...
Monday, April 16, 2018
Affinity Plus Federal Credit Union - ST. PAUL, Minn. (April 16, 2018) - Affinity Plus Federal Credit Union has seen significant increases in member usage and online ratings of its digital-banking platforms since the April 3 launch of a new mobile-banking app, online-banking platform and new rewards program.
In week one, Affinity Plus saw more than 90,000 members log into the mobile-banking app and online banking in excess of 700,000 times.
More than 55,000 members downloaded the new app for either iOS or Android. User ratings, too, soared in comparison to ratings for the credit-union’s previous app.
In addition, members already have redeemed more than 5.7 million rewards points for gift cards, travel rewards and various merchandise available on the new MyPlus Rewards online redemption site. They’ve also redeemed points for fee refunds and rate decreases.
“We are in a year of big changes for Affinity Plus, and we wanted digital banking and MyPlus Rewards first out of the gate because we know they would have an immediate impact,” said Teri Laufers, senior vice president of IT Operations and Development. “We’re really pleased with the results, and how they set the stage for all that’s to come later in 2018.”
FROM THE GROUND UP
Rather than choose pre-built platforms, Affinity Plus worked closely with vendors to create a mobile app and online banking carefully customized to meet members’ specific needs. The process to refine that look and feel included extensive focus-group testing to gauge what members liked and disliked.
“We did that, in part, because through the years members weren’t shy about saying what they didn’t like about our previous digital offerings,” Laufers said. “Honest member feedback kept us focused on creating something really intuitive and feature rich.”
She highlighted a few example reviews:
• "Sleek, intuitive and feature rich. Finally what I expected from a great credit union.” - Apple App Store reviewer.
• “Great update, much needed, love the simple interface [and] touch ID. The app is a modern 21st Century app.” - Play Store reviewer.
• “Finally a credit union that put effort into making a great app. Will be switching my primary account to Affinity from my other credit union this weekend.” – Apple App Store reviewer
• “This is what [Affinity Plus] needed for a really, really long time … [one hundred times] better than that old website wrapper hunk of trash dumpster fire.” - Play Store reviewer.
“We constantly welcome member feedback, and I can tell you we not only ask for input, but we listen and we put those comments and suggestions into action,” Laufers said. “We wanted to be better, too. In response, we launched a new digital-banking experience that’s really amazing, and we’re going to keep refining and improving it.”
CHANGES AHEAD: CORE-PROCESSING-SYSTEM CONVERSION
Affinity Plus’ journey continues throughout 2018 as the credit union replaces its entire behind-the-scenes financial systems. Affinity Plus is undertaking the project because:
• Current technology needs to be upgraded.
• Affinity Plus is in a strong financial and operational position to undertake these changes.
• The effort is an investment in both the credit union as an organization and its members.
“When we’re done, Affinity Plus will be more flexible, connected, stable and well-positioned for the decades ahead,” Laufers said.
The credit union will be communicating directly with members throughout the year about the upcoming changes, as well as posting information on its website, via social media and in its branch locations statewide, she added.
ABOUT AFFINITY PLUS
Based in St. Paul, Minn., Affinity Plus Federal Credit Union is a not-for-profit financial cooperative that puts people first above profits. Members of Affinity Plus receive maximum value through competitive rates, minimal fees, and unique, member-centric products and programs. Established in 1930 and with over $2 billion in assets, Affinity Plus has 29 branches located throughout Minnesota and is owned by more than 189,000 members. Additional information is available at affinityplus.org or by calling (800) 322-7228.