A Reminder of the Importance of Switch Kits

By Lisa Hochgraf

Last week on vacation in Tallahassee, my brother-in-law read an article about the value and power of cooperatives. He got to thinking--and to talking to me--about the idea of switching from his shareholder-owned bank to a member-owned financial institution--a credit union.

Of course I was all for it, but my sister introduced the reality of the situation. "Are you going to manage all the details of such a change?" she asked her husband. "Bill pay, cards, and direct deposit are all associated with that account."

Fortunately, I was able to tell them that some credit unions have "switch kits" or some process in place to make it easy to convert from a bank to a member of that credit union.

We haven't covered switch kits for a while, but here's a past article. What's the latest? With so many bank customers considering a switch these days, what has your credit union done to make it easier?

Comments

[Randy Schultz]

Great post and links Lisa. We have been recommending for quite some time to "combine" the membership guide/kit and the switch kit into one piece. Makes it an easy transition and discussion for both the member to see and staff to talk about as they build the new relationship.

[Lisa Hochgraf]

Hey Randy, Can you point us to any sample switch kits on line somewhere?