Roundtable recap
Thursday, October 22, 2026Credit union roundtable
One Product Is Not a Relationship
Key takeaways on getting members to a second product, from Steven Reed at P1FCU and the credit union leaders at the table.
Hosted by BlastPoint | Featuring P1FCU
15 questions, with a score and next steps at the end.
P1FCU's targeted checking mailer
- 954new checking accounts
- $72cost per account, down from $130
- 10,000high-propensity members mailed
Four takeaways
Steven Reed from P1FCU shared how they approached growing checking accounts, and a few common themes came up in the discussion.
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From P1FCU
Simplify the checking offer.
P1FCU replaced three tiered accounts with one high-yield checking account. It's easier to market and outperformed a $200 cash bonus they tested.
Tier 1Tier 2Tier 3Three tiered accountsHigh-yield checking One account to market -
From P1FCU
Reach indirect members before the loan is paid off.
Many have an auto loan and savings account for 4 to 5 years, then leave once the loan is paid off. Take advantage of that time to build a relationship, rather than waiting for the end.
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From P1FCU
Focus mailers on members most likely to open an account.
P1FCU sent 20,000 targeted mailers to 10,000 high-propensity members, bringing in 954 new checking accounts and lowering the cost per account from $130 to $72.
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From the breakout rooms
Give marketing more control over member lists.
Nearly every breakout group brought up waiting on IT for member lists as a bottleneck. Giving marketing the ability to pull its own lists helps campaigns launch faster.
From the breakout rooms
Marketing teams want independence more than they want more power.
“Let marketing drive the bus.”
On data. The frustration wasn't a lack of insights. It was having to go through IT every time they needed a list.
On tools. Leaders described choosing marketing platforms their own teams could run day to day, over ones built for developers.
On indirect members. Lending teams want to turn indirect borrowers into checking members, and to narrow outreach to the members most likely to say yes.
On cross-sell. Outbound lending teams are offering credit cards, auto refinances, and HELOCs to members with funded indirect loans, and want more data behind who they call.
On deposits. Some want to rely less on CDs, and to personalize offers for checking, auto, and mortgage.
On getting started. Several are early in their segmentation work. One leader described the setup they want: something finds the right groups, those groups go into the email platform, and the platform sends the emails.
56%
of credit unions had fewer members in June 2026 than a year earlier.
Understanding the relationships you already have, and where there's room to grow them, is becoming even more important.
A question to take back
What would you need to show your CEO or CFO to make second-product growth a priority?
It's a lot easier to make that case when you can point to where the opportunities are, how many members hold just one product, and which members might be ready for another.
Checklist
Is your cross-sell reaching the right members?
15 questions to see where your cross-sell process is working, where you may be missing opportunities, and what to do about each gap. You'll get a score at the end, along with practical next steps.
- Do you know who has just one product?
- Can you tell who's ready for another product?
- Are you offering the right product to each member?
- Are you reaching members at the right time and place?
- Do you know what's working?
- 13 to 15
- You have a solid foundation
- 8 to 12
- There's room to get more targeted
- Under 8
- Start with what you know
- Infographic
- Five steps to identify single-product members, find opportunities to deepen those relationships, and track which offers lead to new accounts.
- Get the Five-Step Infographic
- Registered for the roundtable?
- Book a 30-minute working session through November 20. Bring your checklist score, if you've completed it, or just come with questions.
- Book Your Working Session
Related resources
Credit Union Scorecard
BlastPoint's Credit Union Scorecard
Comprehensive financial analytics for 4,800+ US credit unions. Compare performance, view trends, and discover insights.
Explore the scorecard-
Case study
Revenue Projections: BlastPoint's Impact on Generating $410K for P1FCU from Checking Accounts
P1FCU boosted Checking Account engagement with BlastPoint's analysis, targeting key demographics. This is projected to generate $117K to $447K in revenue, showing significant ROI.
Read the case study -
Case study
Outperforming Competing FIs by 80%: Turn Your Indirect Members into Active Relationships
BlastPoint's Member Intelligence Platform enabled a regional credit union to secure an estimated $230K in new deposits and drive engagement 80% higher than competing credit unions.
Read the case study -
