Boost your Member Statement with PFM

More and more, credit unions are offering personal financial management (PFM) tools to their members.  PFM gives your members on-demand tools that help them manage their banking relationships all in one place. Empower your members with the knowledge of their entire financial picture and engage them in a way never before possible.

The average consumer accumulates multiple financial relationships over time. With PFM, you will see where else your members bank, borrow and invest, giving you opportunities to create additional relationships.

PFM uses account aggregation, which involves compiling data from your members’ additional financial relationships – even if they come from sources outside of your credit union. This can include additional bank accounts, CD’s, IRA’s, credit card accounts, brokerage accounts and other consumer or business accounts and presenting it in a single place.

Providing PFM content means that you will give your members a valuable and easy-to-understand snapshot of their finances each month. PFM allows your credit union to:

  • Offer members a custom user experience
  • Give your members a snapshot of their finances all in one place
  • Leverage member data to help better meet their needs
  • Target members to sell relevant additional products and services
  • Promote member satisfaction and retention
  • Use member data to study trends and better support their needs

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