From dormant to active: How New York University FCU prevented 10% of at-risk accounts from going dormant

Overview

NYU Federal Credit Union is a member-owned financial institution dedicated to providing cost-effective services aligned with cooperative principles. To strengthen member relationships, the credit union sought to address account dormancy and re-engage members before accounts became inactive.

Challenge

Many members with checking accounts had gone months without activity. Accounts were classified as dormant after 12 months of inactivity, often resulting in penalty fees that frustrated members. Although the credit union sent reminders via email and mail, members frequently reported they hadn’t received them. Dormancy not only strained relationships but also fueled negative online reviews.

Acquiring new accounts is costly, and we must ensure that account openers are turning into deep relationships.”

Julia Ostrovskiy, Chief Member Experience Officer

Solution

NYU Federal Credit Union utilized the Digital Onboarding engagement platform to implement a targeted campaign aimed at preventing account dormancy. The program included:

• Automated email reminders sent at 9, 10, and 11 months of inactivity
  
• Personalized microsites with easy access to account services, including:
  
  • Direct deposit setup
    
  • Mobile app downloads
    
  • Debit card requests
    
  • Secure credential recovery to simplify re-engagement

Results

The reactivation campaign exceeded expectations, strengthening member relationships and driving measurable improvements in engagement and satisfaction:

• Prevented 10% of at-risk accounts from becoming dormant, doubling the campaign’s original goal
  
• Received positive member feedback on personalized messaging and ease of reactivation
  
• Reduced member complaints related to penalty fees and improved online reputation
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Impact

By addressing dormancy proactively, NYU Federal Credit Union reduced attrition, preserved valuable member relationships, and prevented reputational harm from dissatisfied members. The initiative demonstrated how automation and personalization can save at-risk accounts before they are lost.

The Digital Onboarding engagement platform is the perfect solution for saving at-risk members. Our campaign helped NYU Federal Credit Union reengage 10% of at-risk accounts, and we are thrilled!”

Julia Ostrovskiy, Chief Member Experience Officer

Conclusion

NYU Federal Credit Union successfully re-engaged dormant account holders by leveraging Digital Onboarding’s automated campaigns and self-service tools. The program exceeded expectations, saved accounts, and strengthened member satisfaction.