We have introduced an easier way for your members to save their money with our goal based savings product.
Members will be able to create a new goal, and transfer funds in and out of that goal without it causing a transfer on the ‘root’ account that is being held with the credit union. This means the member can create as many online goals as they like, without placing extra load on opening/closing accounts with the Credit Union.
With members being able to name their savings goals and setting goal amounts, savings goals will now have context behind them, there is a drive to fill and enjoy the reward, rather than fill an endless pot. Once a goal has been set, we plan on a service where our system can send updates, reminders and encouragement to the member on the progress of their goal. Members also have the ability to add emojis to customise their savings as they choose.
Additionally letting a member see and modify the amount they are saving, gives them the freedom to modify the parameters of the account and thus see in real-time the impact of their goals by saving more or less.