Uncommn Success: Mobile Loans

We love helping credit unions serve their members with easy-to-navigate, ADA-compliant, responsive websites. It isn’t just a more fulfilling member experience, it can help drive loans for the credit unions. How? It all comes down to meeting people where they are. On their phones and tablets.

The case for responsive websites has been a strong one for years. Almost 95% of Americans now have cell phones with 77% of those being smartphones*. Common sense would lead us to the conclusion that having a mobile mindsight is far from optional at this point.

As our clients upgrade from their old nonresponsive websites to a new mobile-friendly uncommn site, we have heard from many of them that they’ve noticed an increase in overall communication volume and a jump in online loan applications. We dove deeper to learn more about these worthwhile improvements. Here’s what we’ve found:

  • While nationally the desktop audience is larger than the mobile one*, a look at the analytics for many uncommn sites shows the numbers skew the other way with 55 to 65 percent of traffic happening on smartphones and tablets.
  • About one in ten Americans use their smartphone as their sold internet device.* Pew Research says, “Reliance on smartphones for online access is especially common among younger adults, non-whites and lower-income Americans.” Members of these groups have been underserved in many markets for many years. A responsive site helps close that gap.
  • Previously, nonresponsive sites made filling out forms and applications difficult so they weren’t often completed or were abandoned part way through. With the new mobile-first design, users are more easily able to complete these applications on their phone or tablet.
  • What elements of your site do you dislike?
  • Quick forms that allow members to provide basic information like name, contact info, preferred contact and what product they are interested in are extremely successful. These forms mean interested members can spend 60 seconds submitting their info without having to complete the entire application – which can take 15 minutes or more – and the credit union can have the appropriate loan officer or MSR reach out to that contact with an answer. Since they know what the member is interested in, they can have their answers ready and reach out using the method the member prefers.

If you look around any office, classroom or coffee shop, it’s easy to see that desktops and laptops aren’t going anywhere soon. But neither are smartphones. And giving members and potential members a way to learn more about you — apply for a loan on their handheld device — can help drive membership and loan growth, something we can all feel good about.

March 29, 2018