Payment Industry Insider

Have you noticed that there is a coffee shop on almost every corner?

Have you thought about putting one in your lobby?

It’s not too far-fetched of an idea. Eight to ten years ago, there was a huge push towards the web and Internet banking. That tide has reversed and is moving quickly towards a more retail, in-branch marketplace. Many banks and credit unions are adding coin counting machines, coffee bars, extended hours and even stadium seating near TVs…talk about a captive audience!

But, it’s more than just coin counting machines (see Idaho Central Credit Union’s idea) and espresso bars (Umpqua Bank does this best). Once you entice members into your branch, it’s what you do with that valuable face-time that matters.

Selling other services to your members is the gold that can be harvested from the relatively low expense of coffee and coin-counting. Since banking is a competitive business, it’s a lot easier to do more business with your existing members than to recruit new members.

Old-fashioned, member-focused, face-to-face credit union interaction is the newest way to win the hearts and wallets of your members! 

What other ideas do you have to create opportunities for you to sell more services to existing members?