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Michigan Credit Union League

Moving at the Speed of Your Members


As financial service providers, we often think in terms of investment, credit, lending and saving. But members think in terms of experiences and events—the excitement of a new car, browsing new homes, researching a big purchase or planning a big trip.

This underscores the real challenge behind credit union marketing. While many of us live and breathe finance, the average member might consider lending and insurance once every few years.
 

As credit unions, how do we make sure we’re there when the member’s path meets a crossroads—when the next big decision is on the horizon, and it’s time to choose which way to go? LifeStep Solutions™ was created to answer that exact question.
 

Rethinking the Banking App

Founded in 2013, CU Wallet created the industry’s first, credit union-centric, mobile payment initiative. The Los Angeles-based tech team developed an innovative solution that could be embedded into a credit union’s existing mobile banking application, or deployed as a stand-alone. The CU Wallet application sought to help members make simple and safe purchases from mobile devices.
 

In February 2017, CU Wallet and CU Solutions Group announced that, through a new partnership, CU Wallet was being rebranded as LifeStep Solutions. A new vision and strategic approach were unveiled—the expanded LifeSteps mobile applications will be built to reach beyond standard mobile banking apps.
 

The company’s digital wallet and shopping application is available to credit unions now. With it, users can search and discover local businesses, access money-saving coupons, find credit union-exclusive discounts, process payments and much more. In its first iteration, available enhancements and features include:
 

  • Mobile Wallet Powered by Paydiant: Leverage mobile payments, loyalty offers, cardless ATM cash access and related commerce services

  • Merchant Directory Powered by Foursquare: Find and rate the best food, shopping, and entertainment in a geo-targeted area

  • Card-linked Offers Powered by Empyr: Discover exclusive local discounts and special offers that are accessible when using a credit union credit card

  • In-store & Online Coupons Powered by Relevant Solutions: Access mobile coupons from more than 1,400 of the nation’s leading merchants

Moreover, the company is planning to launch additional applications and features in 2017 including in-store payments, peer-to-peer payments, card control functionality, mobile restaurant reservations and order-ahead food services.  Three more LifeSteps applications built around auto, home and consumer protection will be also be announced in the coming months.

 

Customer Service: Reinvented
Coming full-circle, the LifeSteps mobile apps are designed to align members’ major life decisions with their credit union’s products and services. When a member researches a merchant or uses a coupon, their credit union credit card is top-of-wallet; when they browse homes and vehicles, their credit union’s financing and insurance options are a single tap away.

It’s an experience built for the convenience of the consumer. It provides the user with valuable services and allows them to engage at their own pace, on their own terms. And the entire experience is taking place under your credit union’s brand.

In the digital age, it’s critical to move at the speed of our members, we otherwise risk being left behind. LifeStep Solutions will prove to be a pacesetter for years to come.

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2017-08-01 00:00:00