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Member Acceptance of Electronic Access Systems: Innovators versus Laggards

This report studies credit union members to determine their pattern of adopting new electronic delivery services such as the emerging electronic access systems (EAS).

Executive Summary

To determine a pattern of adopting new electronic delivery services among credit union members, members were divided into three categories: innovators, the first to adopt the service; late adopters, the next to adopt the service, and laggards, the last group of members’ to adopt the service.

The purpose of this study is to provide insights for credit union managers about the characteristics of their members. As a result credit union managers and marketers will have a better understanding of the members to target when introducing new electronic systems. The survey also reveals members awareness and preference of services.

What is this research about?

In this study, the team of research surveyed 807 credit union members (85% of whom used both credit unions and banks) to determine their pattern of adopting new electronic delivery services offered by financial institutions. They found substantial differences between innovators, late adopters, and laggards. This information helps credit union managers and marketers better understand the members they should target first when introducing new electronic services. 

What are the credit union implications?

There are three important reasons to study electronic access:

  • The data from this research will help credit unions understand how to segment the market for EAS. Such data shows how demographic and psychographic groups differ in their awareness, understanding, attitude, use, and anticipated adoption of various EAS technologies. This data could be used for effective strategic planning.
  • The results of this study will help credit unions determine which technologies to implement for their members and how quickly.
  • The data revels the extent to which members are aware of various EAS technologies and their attitudes towards those technologies. This is critical for credit unions planning effective educational and promotional efforts.