Your members are inundated with options these days, especially when it comes to choosing their checking account providers. Don’t lose them to fintechs and other banks. Offer a lifestyle checking option that goes beyond basic banking and stay competitive in the fierce race for member loyalty.
What Is A Lifestyle Checking Account?
A lifestyle checking account is designed to offer benefits and perks that resonate with your membership base. These accounts can include a wide variety of offerings, like financial wellness tools, protection products, and discounts. Popular offerings include:
- Cell phone protection.
- Telehealth.
- Identity protection.
- Pet insurance discounts.
- Fuel discounts.
- Travel insurance.
- Roadside assistance.
- And more!
Boost Loyalty With Lifestyle-Driven Checking Accounts
Lifestyle-focused checking accounts are intended to fit members at every stage of life, with benefits that are relevant and appealing to everyone — from students to seniors and even business owners. Offering products that deliver real value in daily life can ensure loyalty to your institution for years to come.
Deliver Value In A Digital-First World
One of the most beneficial perks of these checking accounts lies in their flexibility. Let’s face it, your members are busier than ever and the demand for convenience, ease, and accessibility is a given. The ability to access the features and benefits of their premium checking account directly through your mobile app can be a key differentiator that drives engagement and makes you the primary or preferred financial institution for all their banking needs.
Drive Growth With Tailored Solutions
A checking solution tailored specifically to your membership can help create more meaningful connections with your members by demonstrating an awareness of what matters to them. Showing that your institution cares about the financial and personal wellness of its client base can build trust and attract new customers to your institution, keeping you ahead of your competition.
Differentiate In A Crowded Market
Lifestyle checking accounts have become a reflection of the expectations of today’s consumers. Consider the opportunity to combine purpose with innovation and stay true to the credit union mission while evolving to meet the moment.
At SWBC, we know the importance of differentiating and customizing your offerings to meet the goals and needs of your members and your organization. Learn more about the benefits of this amazing checking option and consult with one of our experts!
Ronni Martinez is vice president of product management at SWBC. In her role, Martinez identifies industry partners that bring fresh ideas, concepts, and products to the financial institution space. With a goal to partner with a purpose, Martinez is dedicated to collaborating with industry leaders to develop modern, relevant, and empowering solutions that create value for SWBC clients.
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