How $1.5 Billion Farmers Insurance Federal Credit Union Boosted Member Engagement By Modernizing Its Digital Banking Experience
Like many credit unions, Farmers Insurance Federal Credit Union (FIGFCU) has seen its 60,000 members – and the broader membership base it is targeting – increasingly leverage digital banking to manage their personal finances. In response to this shift and determining that its existing offering was lacking, the credit union committed itself to modernizing the digital banking experience for its members and in the process, gaining more control over its technology roadmap.FIGFCU’s senior management recognized that the shortcomings of its existing digital banking platform were actually having a negative effect on the health of the business – assets were declining and member attrition was rising as some members were enticed by competitive financial institutions’ more modern banking services. A c...