Newry Credit Union: Banking Services Strategic Review

Newry Credit Union was the first Credit Union in Ireland to offer Current Account banking services, as part of the ABCUL Current Account Project. It wished to review the success of the current account and debit card and identify how the Credit Union should plan for the future to build on this initiative and provide quality services to its membership going forward. It engaged Bayberry to perform a strategic analysis and review of the service to date.

This comprised the following elements:

• Membership and usage review
• Cost and revenue analysis
• Member analysis and value proposition segmentation
• Member adoption strategies
• Brand analysis, marketing planning, and pricing strategy
• The use of digital demand generation
• Regulatory options
• The influence of changes to the competitive and market landscapes
• Identification of critical factors for success

We prepared a report and conducted a workshop for Newry Credit Union, reviewing the first year of operation of the Credit Union Current Account and helping it to firmly establish a strong strategy for growth moving forward.

Click the link to download more information on the original Credit Union Current Account delivery project.