ATLANTA--(BUSINESS WIRE)--Gro Solutions, a leading provider of digital growth solutions for banks and credit unions, announced that Kalamazoo, Mich.-based Consumers Credit Union has implemented Gro Account Opening Sales Platform.
Gro Solutions provides the only complete, multi-channel account origination platform designed to support a consistent user experience through a desktop, in-branch, or mobile device, and leverages unique technology to streamline the integration of application data during the account opening process and dramatically reduce mobile abandonment rates.
“The first month of activity far surpassed our expectations, and we are extremely pleased with how the partnership has progressed with Gro,” said Lindsay Land, VP, Operations of Consumers Credit Union. “The Gro team is in tune with our strategic plan and we have worked to develop a roadmap for this channel.”
In the first month, Consumers recorded the following success metrics:
- 170% of new account goal;
- 83% of new members have enrolled in online banking;
- 47% have used their new accounts to accept deposits and pay bills in the first month; and
- Nearly 100% of the accounts were initially funded during the account opening process.
“Mobile-first and mobile-only consumers expect a concise workflow that minimizes data entry when it comes to the account opening process, otherwise they abandon the process and new accounts often go unfunded,” said David Eads, CEO of Gro Solutions. “We are very pleased with the results that Consumers Credit Union is seeing, and will always be innovating new ways to increase sales.”
About Consumers Credit Union
Locally owned since 1951, Consumers Credit Union serves more than 72,000 members, simplifying banking through exceptional service, education and convenient technology. For nearly three decades, Consumers has averaged 18 percent annual growth and accumulated more than 700 million in assets, driving its expansion into Kalamazoo, Grand Rapids, Holland, South Haven and Coldwater. The community-chartered credit union serving all of lower Michigan has consistently earned annual customer satisfaction ratings of 98 percent and is recognized as one of West Michigan’s 101 Best of the Best Places to Work. For more information, visit www.consumerscu.org/
About Gro Solutions
Founded in 2015, Gro Solutions, Inc. provides digital growth solutions for banks and credit unions. Through a fresh direction and a technology strategy that embraces mobile capabilities instead of begrudgingly accommodating them, Gro Account Opening helps financial institutions present a mobile front door that meets and exceeds the mobile expectations of the new customer. Gro Solutions is a subsidiary of Mobile Strategy Partners (MSP), which provides strategic and technical advisory services to the financial industry. For more information, visit www.grobanking.com.