How credit unions can increase assets, engage membership, and build community trust through compliant scholarships
Join us on February 14th, 2024 at 11am CT to explore how credit unions providing compliant and modern scholarships are engaging membership (especially in the younger demographics) and providing deeper community impact and trust.
- Increase membership and asset growth
- Rejuvenate member engagement
- Build community trust and impact
- Ensure compliance
- Engage the younger membership
- Provide modern digital transformation
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Why Credit Unions use Reviewr?
Scholarships, powered through Reviewr, help credit unions drive deeper member engagement and community impact – leading to increased asset growth, regulatory compliance, and community trust.
Scholarships are a direct way of giving back to the community. It shows credit unions are committed to the betterment and success of its valuable members – leading to increased membership. As Membership increases, more individuals will open accounts, take out loans, and leverage other financial services.
According the the World Council of Credit Unions – the average age of a credit union member is 53, posing long-term sustainability challenges. Scholarships attract a younger generation of membership while leading to increased membership via referrals as well as driving financial literacy and education in a target demorgraphic.
Scholarships from credit unions are a direct investment into the community – helping members achieve their educational goals, which lead to better job opportunities, improved quality of life, and local economic impact. By supporting members educational pursuits, credit unions lay the groundwork for long-term relationships. Members will appreciate the credit union’s efforts leading to increased loyalty and trust – empowering positive publicity and community brand image.
In a highly regulated industry Reviewr provides both the data security and audit proof of process critical to the success of a scholarship. Leveraging proof of process functions credit unions will ensure a fair, non-bias, and compliant scholar selection process while also ensuring a feedback loop for self development and growth. As a SOC2 certified platform, Reviewr gives both credit unions and the community peace of mind that robust data security measures are in place to handle sensitive member information.
Reviewr provides the modern consumer the digital accessibility desired by the modern consumer. This leads to a better participant and volunteer experience, streamlined operations, data-driven insights, and the toolbox credit unions seek for building a digital brand presence.
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Success Stories
“I would say that reason we decided to work with Reviewr was we needed an affordable solution to streamline our scholarship process for the web in a way that both improved the experience for our student applicants as well as our volunteer judging committee. In the past, our process was a PDF download of a paper application with several paper components. We found that by moving to an online application, we were actually removing barriers for students to enter, making it easier to for applicants to gather their information and write their essays."
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Without Reviewr there were several times my son ran into unnecessary barriers while trying to apply for scholarships with old processes by well meaning people. Modernizing the application process will help reach more students.
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“Prior to implementing Reviewr we had one staff member making copies of nearly 85 application packets for 5 judges. Organizing the documents, putting them into packets, copying them 5 times, and making a master scoring sheet in Excel by hand took days of work. In addition, our volunteer judges had to manually input scores into excel and then share with additional volunteers to compile.”
“Our volunteer team is very happy with the platform and Reviewr has been a great partner to help us develop the application process that best fits the needs of both our student applicants and our judges. We are very happy about with our ongoing partnership.”
Less busy work, more impact.
Reviewr alumni award and board nomination management software provides dedicated tools that transform the entire award lifecycle. Reviewr packages up all the bells, whistles, and widgets in a proven formula that streamlines operations and increases engagement for all.
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Increase operational efficiency
Increase administrator efficiency by an average 84%, empowering organizations to spend more time on high-impact activities and less time toying around in spreadsheets, emails, and documents.
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Boost Engagement
Provide the engaging and modern experience participants desire- leading to an average 31% increase in participation rates, better quality nominations, and reduced support.
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Simple, fair, and compliant review experience
79% average reduction in review team workloads allow staff to provide the thoughtful, fair, and quality evaluation and selection experience applicants deserve – all ensuring privacy and compliance.
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Confidence through data driven decision making
Create program integrity and confidence through accurate, transparent, consistent, and data-driven decision making.