Delivering Seamless, Relevant, and Engaging Experiences
How UCCU Meets Members Where They Are With Personalized Digital Banking Tools
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Founded in 1956 as a university employee federal credit union, Utah Community Credit Union (UCCU) today serves more than 180,000 members — and counting — across Utah Valley and beyond.
The Challenge
UCCU stands out with a notably younger membership base, largely attributed to its strong presence in Utah County — home of 2 universities and numerous young families. UCCU is dedicated to exploring new avenues to leverage innovative solutions and staying at the forefront of technology to meet and exceed the needs of its members. The credit union had an opportunity to provide financial solutions that delivered exceptional digital capabilities that would resonate with these younger members. With a tech-savvy and budget-conscious demographic, UCCU needed to find a way to speak to its younger members with seamless, relevant, and engaging digital financial solutions.
The Solution
UCCU leveraged MX’s personal financial management (PFM) tools and data aggregation services through Q2’s cPFM solution to enable its members to gain a complete financial picture and enhance their financial literacy. This innovative approach deepens engagement, empowers members to achieve financial success, and reinforces UCCU’s commitment to their well-being.
Driving Digital Engagement Leads to Increased Account Openings
UCCU leveraged MX to offer a suite of tools providing budgeting, saving, and personal goal tracking capabilities that appeals to its more tech-savvy members. This level of personalization is key to keeping consumers engaged — and staying true to UCCU’s mission of providing exceptional customer experiences. 81% percent of its digital banking members consistently engaged with MX products, surpassing the industry benchmark of 60% to 65% for consumer adoption.
Through MX’s PFM tools, UCCU members have been able to leverage personalized recommendations and insights to make more informed financial decisions. This higher engagement has also led to more account openings. UCCU has seen a 27% higher open rate for checking accounts and 64% higher open rate for savings accounts among those using MX PFM tools.
Members engaged with MX PFM tools open more accounts
27% higher open rate for checking accounts
64%higher open rate for savings accounts
About MX Account Aggregation
MX simplifies personal financial management (PFM) for consumers from connecting all of their accounts in one place, to best-in-class digital money management capabilities, to proactive, personalized financial insights.
About MX Personal Financial Management
MX’s PFM product offers a comprehensive suite of tools designed to help users manage their finances with ease. It provides features like budgeting, expense tracking, financial goal setting, and personalized insights, all powered by advanced data aggregation and AI-driven recommendations to improve financial well-being.
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