UCCU exceeds expectations of tech-savvy members with Q2
Utah Community Credit Union sees significant growth in assets size, savings goals, transfer volume and app ratings after switching to Q2
- 1000+ a day in external transfers, compared to 20-30 a day previously
- 25% decrease in call volume year over year
- 1,000 new savings goal accounts opened with 24 hours of Q2 Goals implementation
“Our asset growth and membership growth has outpaced the industry over the last five years, which speaks highly of the direction we’ve gone with our technology. Overall, assets are up. New member growth is strong. Loan growth is strong. Online and mobile banking traffic and transactions are up.”
About Utah Community Credit Union
- Headquarters
- Provo, Utah
- Assets Under Management
- $2.58 billion
- Solutions
- Q2 Digital Banking Platform, Q2 Goals, CentrixDTS, CardSwap, Q2 SMART and Q2 Discover
Challenge
UCCU had two vendors and lacked a unified user experience
UCCU is located between two large universities and has a very young, tech-savvy membership with high expectations. Before converting to Q2, UCCU was managing different vendors for mobile and desktop banking, creating delays in integrating new features and the inability for a unified user experience between the two platforms.
Solution
Q2 helped UCCU decrease implementation time and create a unified user experience
UCCU has accelerated its digital transformation and deployed a steady cadence of new financial tools powered by Q2’s best-in-class digital banking platform, exactly what its young membership base requires. Consolidating everything with Q2 has paid dividends for members, leadership and employees.
With Q2’s best-in-class digital banking platform, UCCU has found significant value in Q2’s popular financial wellness solution, Q2 Goals™. UCCU also leverages CentrixDTS™ for fraud detection and dispute resolution, CardSwap™ for automated debit and credit card updating, and multiple data insights and marketing tools such as Q2 SMART™, the EVE Extract and Q2 Discover, which also allows immediate messages to be posted to digital banking users, via pop-up messages and on-screen “guides ”.
Results
By harnessing Q2's innovation, UCCU achieved the following:
- Opened 1,000 new savings goals accounts within the first 24 hours of implementing Q2 Goals
- Increased mobile app store ratings from 2s and 3s to 4.7 and 4.4
- Reduced call volume by 25% year-over-year
- Increased asset size by over 65%
- Decreased the number of transactions done over the phone by 28% year-over-year
