Community banks and credit unions are known for building strong account holder relationships. For decades, the branch was the primary place where that happened. But expectations have shifted. Today’s consumers want the same level of care and connection whether they walk into a branch or open an account online.
That shift has created tension for many financial institutions. Digital transformation often sparks fears of losing the personal touch. Yet, with the right tools and strategy, digital engagement can actually strengthen relationships, making them more personal and more scalable than ever.
Here are four common myths about digital consumers, and how banks and credit unions can move past them to grow lasting relationships.
Myth #1: Digital account holders don’t value connection.
Reality: Customers and members still want meaningful service. They just expect it to be accessible when and how they need it.
Providing meaningful service in today’s digital age means meeting customers and members in whatever channel they prefer—online, over the phone, or in-branch. Connection and trust are built when an account holder receives services in their preferred channel.
Omnichannel support takes this a step further, bridging the gap between channels to deliver a seamless customer or member experience and flexibility to move between channels as needed. For example, one MANTL client described how a banker assisted an older applicant in opening a $250,000 account over the phone. The banker could see the application in progress and stayed on the line to walk them through the process in real time for moral support. Another MANTL client, Dupaco Credit Union, saw firsthand how their digital channel complements their physical channels. They shared that a member visited a busy branch to open a certificate of deposit (CD), and that member opened a $100,000 CD on their phone in just four minutes while standing in line, no longer needing to wait for banker assistance. The digital process met their needs quickly and left them satisfied—a win for both the member and the credit union.
Just because a customer or member may prioritize engaging on a digital channel does not mean they don’t value connection; it means they value ease of use and accessibility. Having digital tools in place builds trust and grows relationships.
Myth #2: Digital engagement leads to shallower relationships.
Reality: Strong onboarding builds strong relationships, no matter how customers or members first engage.
While digital channels enable institutions to meet customers and members where they are, they also facilitate rate shopping, allowing them to easily browse competitive rates, fees, and features. This can create the perception that digitally acquired account holders are less loyal.
However, research shows that 63% of account holders are more likely to continue relationships with financial institutions that offer an engaging and smooth digital onboarding and servicing experience. When early interactions feel disjointed or impersonal, establishing trust becomes more challenging, and momentum is often lost before the relationship can develop.
The banking relationship doesn’t end when someone clicks “submit.” It continues with every follow-up, every welcome message, and every product recommendation.Industry consultants forecasted that Veritex Community Bank would only retain 35% of online deposits raised through a digital marketing campaign. With a curated and strategic omnichannel onboarding journey that blends digital and physical touchpoints to deepen customer relationships, Veritex Community Bank retained 81% of the deposits raised on digital channels.
Myth #3: Customers or members that enter through digital channels are not profitable.
Reality: Digital customers can drive long-term profitability if they’re engaged with the right tools and strategy.
Industry data indicates that over one-third of online checking accounts have an average balance of under $1,000, potentially leading to the perception that these customers drive low engagement and limit long-term profitability. However, with the right technology in place, financial institutions can offer high-margin products that customers and members can open seamlessly and efficiently online. This creates a better customer or member experience, greater return on investment (ROI) per product, and long-term profitability for those who enter through digital channels. With MANTL, banks and credit unions can adjust their account opening workflows to require initial funding, offer flexible account funding options, and prompt direct deposit switching, all of which drive greater account balances and increased primacy. Based on MANTL platform data across all clients in H1 2025, the average initial funding amount for a new retail customer on MANTL is nearly $13,000.
Myth #4: Digital engagement weakens the relationship model.
Reality: Digital channels support the needs of new and existing customers or members.
Existing account holders represent 40% of the digital applications submitted through MANTL, according to MANTL platform data across all clients in H1 2025. That shows how digital channels support and grow customer and member relationships.
When opening additional accounts is fast and familiar, it becomes easier for account holders to expand their financial relationships. MANTL enables banks and credit unions to support a full range of deposit accounts, including those built for changing life stages and business growth. That flexibility helps financial institutions stay relevant at every stage of the customer or member journey.
Relationship banking redefined
Digital engagement isn’t the end of relationship banking—it’s the future of it.
Today’s consumers and businesses are just as likely to enter your bank or credit union through a screen as they are through a branch door. But their expectations remain the same: They want responsive, relevant, and reliable service from a financial institution that knows them.
That begins with a seamless online account opening experience and continues with digital tools that help deepen relationships over time.
MANTL helps community banks and credit unions deliver personal service at digital speed, building trust from the first click and growing it with every interaction.
Get in touch with our team to discover how MANTL can help your institution turn digital engagement into long-term growth.
