Xtend Data Analytics welcomes its 15th client to its member retention-based program, Losing the Love. Forest Area Federal Credit Union’s Losing the Love program launched in in January 2024. Losing the Love underwent heavy redesign and audience refresh in 2023, with improved data strategies and integrated survey content. With the addition of Forest Area FCU, 60% of Xtend LTL program clients are now a part of the newly refreshed and redesigned version of the program.
Losing the Love is a program that analyzes decreased engagement for members who closed within the last 6 months and focuses on improving active member retention and engagement by targeting those members displaying similar behaviors. There are a total of 10 key behavior indicators that focus on a variety of audiences decreasing their typical actions with the credit union, including coming into the branch less often, but not using online banking, lowering in their debit or credit card usage, decreasing the amount of ACH or Bill Pay transactions, and more. Xtend harnesses the power of data to reach out to disengaged members through HTML emails and surveys, allowing credit unions to recapture the love of their members before they are gone.
“Losing the Love has been a powerful tool for the credit unions we’ve been able to help through the program,” said Sarah Ashby, AVP of Communications. “It’s been great to see our credit unions, large and small, increase member retention and grow their memberships with less effort and stress each month. I’m excited to see what Losing the Love does for Forest Area’s membership next!”
Losing the Love is currently available on the Xtend website. Contact the Xtend Team at info@xtendcu.com or 800-327-3478 for more information.