Allegacy Federal Credit Union

When a mission to help their 162,000 members be their best selves was tested by COVID-era distancing, Allegacy went all in on digital. And with NCR's partnership, their members are getting the most of Allegacy’s new solutions for mind, body and wallet wellness.
"There is an invisible finish line on the journey to a digital-only experience. But along that journey comes a reminder that it’s being done right—not only for the credit union but also for its members."

— Treva Loyd, AVP, Digital Banking
What they needed

To support their members' increased digital needs during a pandemic

Located in Winston-Salem N.C., Allegacy Federal Credit Union was founded in 1967 and has 17 branches and nine credit unions serving 162,000 members. When pandemic limits were placed on visits to the branch, their members began relying much more on digital-first banking. In addition to a huge boost in online interactions, interactive chat volume increased by 44% and Interactive Teller Machine (ITM) use increased by 27%—so they reevaluated and galvanized their digital channel by partnering with NCR to develop a digital-first strategy internally and for their members.

What we delivered

A relationship that goes beyond solutions

While a strong move to digital-first banking involved technology solutions, Allegacy needed to know if their members were engaging with them properly. So NCR provided a well-rounded partnership that included a complimentary NCR Profitability Analysis that’s helping them maximize value and guide their approach to best serve their digital-first (and digital-only) members.

We also brought on NCR’s Promotion Suite Premium for their marketing endeavors, which includes push notifications, geofencing, beacons, campaign management, app messaging and secure chat in an integrated digital experience for high-performance, personalized marketing. And, with NCR’s Admin Platform, Allegacy has constant access to reports to track member engagement and compare key metrics to check performance.

What happened next

Powerful insights, powerful results

Allegacy's members are actively using their digital services with strong year-over-year adoption and their app has a 4.8-star average across iOS and Android. Their marketing efforts are stellar with an over 85% click-to-open rate to their landing page from mobile devices and a 50% click-through rate for a certificate offer on the first day of the campaign.

They’re also receiving key insights about member behaviors that reinforced how investing in their digital-first strategy was the right move—not only to support their members’ banking needs but also to increase their profitability. The Profitability Analysis showed active digital banking members with an open checking account were 5x more profitable than offline members, with 13 more debit card purchases per month and retention rates of more than 90%. And their Digital Ambassador Program is providing an omnichannel experience with employees actively informing members about transactions that can be performed at the branch and digitally.