Sun Federal Credit Union’s Journey to Digital Banking Excellence

Sun Federal Credit Union (SFCU)

Read how SFCU is driving higher loans and deposits per member than the federal credit union average by using the Alkami Platform in these ways:

• Harnessing data to push targeted messaging and offers directly to members
• Meeting members where they are with mobile solutions to once branch-only needs
• Utilizing deep platform integrations to expand features and functionality

Sun Federal Credit Union (SFCU), a member-driven credit union based in Ohio, has been a community staple for years, with 11 physical branches, five high school branches, and an eBranch. Despite their success, SFCU knew that to thrive in the modern era, they needed to match the experience offered by popular digital consumer apps. In 2015, they set out on a journey to transform their digital banking services and attract a younger demographic. To achieve this goal, they partnered with Alkami, and the results were remarkable.

A Modern Solution for a Changing Member Base

As SFCU sought to engage younger members, it was clear that they needed to prioritize a mobile-first, user-friendly digital banking experience. Alkami, with its modern cloud-based digital banking platform, was the perfect partner for this transformation. The shared vision was to create a consistent, seamless experience across desktop and mobile platforms while leveraging Alkami's data capabilities for targeted marketing.

SFCU began by improving digital onboarding and implementing tools that allowed their members to interact with their finances in new ways. Alkami's platform enabled SFCU to add digital conveniences like self-service card controls and rewards-based checking integration, creating a cohesive experience across all digital touchpoints. For many members, this bridge between old and new helped to make the transition to digital smoother.

Supporting Members Through Change

While SFCU invested heavily in digital infrastructure, they also recognized the importance of personal support during the transition. To ease members into the new digital banking experience, Alkami provided onsite experts to help answer questions and train SFCU employees. SFCU even added dedicated phone lines to assist members with the switch, ensuring that everyone felt comfortable with the new platform.

By maintaining a high level of customer service during the implementation of new technologies, SFCU helped their members feel confident using the new tools available to them. This approach resulted in stronger relationships and higher member engagement, despite the shift to a more digital-focused experience.

Leveraging Data for Smarter Marketing

The partnership with Alkami brought significant benefits not just in user experience, but also in how SFCU approached member engagement. By utilizing the Alkami Platform's data segmentation capabilities, SFCU could push targeted messaging and offers directly to members, which led to an increase in member engagement and deposits. SFCU Vice President Dave Wilde noted that the platform was actively helping them find new ways to engage with members and provide more tailored experiences.

With the onset of the COVID-19 pandemic, the need for a strong digital platform became more apparent than ever. SFCU used the Alkami Platform's Message Center and automated processes to evolve their relationships with members from transactional to conversational-bridging the gap when in-branch interactions were limited.

Preparing for the Future

The partnership with Alkami helped SFCU achieve significant milestones. They experienced higher loans and deposits per member compared to the federal credit union average, and saw a 22% increase in younger members after implementing Alkami's solution. As the pandemic changed the landscape of in-person banking, SFCU was well-positioned to pivot to a primarily digital experience without losing the connection to their members.

The credit union also restructured its marketing team, adding new roles such as a data analyst to optimize their marketing strategies using the platform's data insights. This restructuring allowed them to fully leverage the tools available and track the effectiveness of their communication.

A Vision for Continued Innovation

With more than $650 million in assets and over 38,000 members, SFCU has established itself as a leader in digital banking among credit unions. They continue to innovate with plans to expand digital offerings in areas like lending, account opening, and self-service tools. Their commitment to providing a modern, engaging digital experience while retaining a personal touch has set them apart as a forward-thinking institution.

By partnering with Alkami, Sun Federal Credit Union not only modernized its digital banking capabilities but also transformed its relationship with members. Through a focus on both cutting-edge technology and personalized service, SFCU has proven that credit unions can thrive in a digital-first world without losing the human connection that makes them unique.