Case Study: How Lumin Digital Helped Heritage Family Credit Union Increase Its Digital Banking Engagement

Credit union online banking platform

Katye Munger is the Assistant Vice President of eCommerce at Heritage Family Credit Union. We recently chatted with her about her experience working with Lumin Digital, and how their new system has improved the Heritage Family Credit Union experience.

1. How has your marketing changed since introducing the Lumin Digital platform? What has the response been financially?

Our previous online banking platform did not allow us to target users in any meaningful way. Now everyone who logs in can see features that are relevant to them. It’s a really targeted way to make sure users receive valuable information. 

We had no way to register people for different e-services on the old online banking platform. We have seen an astronomical increase in remote deposits and bill pay, just from advertisements and explanations about how the system works. Targeting users expands the knowledge base of our products.

2. Has the new digital banking platform helped you engage with users in new ways?

We can target users based on the type of account they have. It’s really key. Right from the get-go, we can target only business users, perhaps businesses that don’t have a credit card with us, people who don’t have mortgages with us, or have mortgages at other locations. We can then market home equity loans to these users. Having that knowledge and marketing flexibility is really great.

We have had an increase in online services since the pandemic. The in-person branch is now open, but it really revealed what people can do online. We are still seeing an increase in electronic applications, which our users can access through the Lumin platform.

3. How does the Lumin Digital platform allow you to compete with larger financial institutions?

The features and flexibility of the platform allow us enhanced functionality. We can control the features of the platform based on our users’ services. Having that relationship component and building upon it is key. It was a really smart way to design the product and reach our users in a meaningful way.

4. Why did you decide to partner with Lumin Digital rather than any of its competitors? What does their platform offer that made it your choice?

The big impact on our decision was continuous deployment. Lumin has weekly deployment and is able to fix any sort of bug or issue, enhance features, roll out new features and increase the functionality with no downtime. Most companies do that just once or twice a year. No downtime and continuous deployment—that makes a huge difference.

I’m coming up on my two-year anniversary with the company. They were pretty confident they were going to choose Lumin but wanted someone to look at it with fresh eyes. I did due diligence on several companies. The biggest thing that stood out for me was that Lumin talked as one person. We were truly working together on this new venture and they’ve come through on all of their promises.

We were the first credit union to market with Lumin Digital, and we’re coming up on our first anniversary. We are proud to be the first credit union on Lumin.

5. What are the primary ways the new platform has increased convenience for users?

If you download the app, you can do absolutely everything. Users haven’t had that experience elsewhere, or with us until now. Now there is a really robust and complete platform in your pocket everywhere you go—it’s really just convenient.

It’s a true omnichannel experience. The same experience no matter where you’re logging into the platform. Pay your bills whether on your phone, desktop web browser … doing transfers, seeing account balances, ordering checks. All of those things are really huge.

Before, we didn’t have a way to meaningfully advertise new features or control who had access to certain features. Before, things were hidden and we had to wait for people to ask for them; they didn’t know what was there.

Being able to control that access has been super-convenient for users, especially during 2020. They have been able to utilize the full functionality and services that we offer.

With Lumin Digital, it’s more of a partnership experience than I’ve experienced with any other company. They really want to know how we’re doing, what our feedback is and how we can make it better for our users. It’s a really wonderful thing.

To learn more about how Lumin Digital can support your financial institution, request a demo today.

Image credit: Heritage Family Credit Union