Q2 Helps Utah Community Credit Union Achieve Significant Growth by Attracting Younger Members
07 Februar 2023 - 4:00PM
Business Wire
Credit Union harnesses the power of Q2’s
digital banking platform and its financial wellness solutions to
meet the expectations of tech-savvy accountholders
Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital
transformation solutions for banking and lending, today announced
that Utah Community Credit Union (UCCU) has transformed its digital
banking experience to meet the expectations of younger account
holders while achieving significant business outcomes, including
new account openings, increased member satisfaction, decreased call
volume and growth in external transfers.
UCCU’s CIO Justin Olson said, “We have experienced extraordinary
growth in both assets and members over the last five years, which
speaks highly of the direction we've gone with our technology
through our partnership with Q2. Overall, assets are up. New member
growth is strong. Loan growth is strong. Online and mobile banking
traffic and transactions are up significantly.”
Olson said, “In the first 24 hours of launching Q2 Goals™, we
had a thousand new savings goals accounts opened without requiring
any employee intervention. It was all automated. It’s been a great
opportunity for us to reach out to members and connect with them in
a new way. We pride ourselves in helping our members be financially
stronger. We can see our members are financially better off for
having banked with us than if they were somewhere else. That's a
big deal.”
Since UCCU began its partnership with Q2, it has deployed many
of Q2’s pre-integrated solutions available through the Q2 digital
banking platform. Recent results include 1,000 new savings accounts
opened in the first 24 hours of its implementation of Q2 Goals™, a
25% decrease in call volume year over year, a 65% increase in asset
size and a daily increase in external transfers from 30 to over a
thousand.
“What’s also really improved is external transfers,” said
Stirling Ogden, Director of UCCU’s Online Services. “Our external
transfer volume went from 20 - 30 a day to about a thousand a day.
We had so many different vendors to tie into our online banking,
but now Q2 has that integrated for us. It used to take members
three to five business days to link an external account. Now, the
workflow through Q2 is so simplified that members can have their
account linked and verified in a day because it's simple, visible
and intuitive.”
UCCU – a $2.58 billion community credit union based in Provo,
Utah – serves more than 220,000 members across multiple
generations. The organization is rooted in the credit union
philosophy of “people helping people” and built on traditional
values of commitment to outstanding service, respect for others,
and fiscal responsibility, and began its partnership with Q2 in
2017.
Dallas Wells, senior vice president of Product Management, Q2
said, “Q2 is pleased to help Utah Community Credit Union fulfill
its vision of being the most loved, most trusted, and most utilized
credit union in the nation. We know that consumers of all ages
demand digital banking tools that simplify their financial lives,
are easy to use, and are accessible through the device of their
choice. Q2 looks forward to continuing our partnership with UCCU by
staying relevant and always a step ahead of the evolving
expectations of account holders.”
Learn more:
Case Study: UCCU Exceeds Expectations of Tech-savvy
Members with Q2
Blog: How Utah Community Credit Union Attracts Younger,
Tech-savvy Members with a Modern Digital Banking Experience
Video: UCCU Testimonial Video
About Utah Community Credit Union (UCCU)
Founded in 1955, Utah Community Credit Union (UCCU) is an
organization rooted in the credit union philosophy of "people
helping people" and built on traditional values of commitment to
outstanding service, respect for others, and fiscal responsibility.
We hold ourselves to the highest standards of honesty,
professionalism, and integrity and are committed to achieving
excellence in operations, products, and member service. With
consistent and reliable service delivery, we create trusting
relationships with our members. We are a member-centric
organization. Our decisions at all levels are based on what is in
the best interest of the member, while maintaining a financially
strong and stable organization.
About Q2 Holdings, Inc.
Q2 is a financial experience company dedicated to providing
digital banking and lending solutions to banks, credit unions,
alternative finance, and fintech companies in the U.S. and
internationally. With comprehensive end-to-end solution sets, Q2
enables its partners to provide cohesive, secure, data-driven
experiences to every account holder – from consumer to small
business and corporate. Headquartered in Austin, Texas, Q2 has
offices throughout the world and is publicly traded on the NYSE
under the stock symbol QTWO. To learn more, please visit
Q2.com.
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Carly Baker Q2 Holdings, Inc. +1 210-391-1706
Carly.baker@q2.com
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