Accelerating Deposit & Loan Growth
At Capitol Credit Union of Texas

Facing the need to expand beyond an aging membership and attract younger, non-blue collar members, Capitol Credit Union of Texas partnered with Cotribute to implement a Digital Account Origination and Decision Intelligence-based system, to achieve 59% increase in new membership, an average of $10,000 in new deposits per new member and a 70% reduction in employee processing time. Within 90 days, the digital channel became the #1 channel generating more new accounts than all the branches.

Context

Capturing the Next Generation

Most credit unions have aging memberships and struggle to attract the next generation of younger, non-blue collar members. When Capitol Credit Union of Texas decided to target a younger demographic (competing with challenger banks), they needed compelling digital account origination experiences and non-branch channels that could scale.

Goals

Double in size (deposit and loans) in the next 5 years

Expand wallet share with new members (in the first 6 months)

Evaluate effectiveness of investments in hyper local marketing campaigns & drive-up units

Execution

Streamlining Digital Account Origination

Transitioned from an expensive solution that wasn’t delivering results to Cotribute’s digital account origination platform

Leveraged Cotribute’s analytics to get insight into application abandonment and attributed completed applications by location, campaign, demographics, products etc.