[Updated September 2025]
In an era where mobile apps and online banking dominate, it might be tempting to believe branches are no longer essential. But the numbers tell a different story. Research from McKinsey & Company found that in-branch account openings convert at an astounding 85%, compared to just 15% in digital channels. And that 85% is actually closer to 100% once you remove cases rejected for fraud or identity issues.
Other studies back this up: according to Fiserv, branches remain the leading source of new product sales and account relationships, often responsible for 60% or more of all new product sales. The evidence is clear: branches are still the beating heart of growth for credit unions and community banks.
Why Branch Conversions Are So High
When members walk into a branch, they’re already motivated. They’ve set aside time, gathered their documents, and are prepared to take action. Add in the face-to-face trust built with staff, and the likelihood of conversion skyrockets.
Digital channels are convenient for quick transactions—but when it comes to opening new accounts, securing a loan, or starting a long-term relationship, members prefer a human touch. The branch environment makes it easier to guide members, answer questions in real time, and resolve concerns that could otherwise stall or stop the process online.
The Role of Appointments in Branch Success
If branches are where the majority of conversions happen, then getting members into the branch efficiently is critical. That’s why offering convenient appointment scheduling is such a powerful tool.
Appointments remove friction:
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Members choose the time and location that works best for them.
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Staff can prepare in advance, ensuring a smoother experience.
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Wait times are reduced, because traffic is spread out more evenly.
This simple step—making it easy to book time with staff—can directly boost conversion rates, improve member satisfaction, and maximize the value of branch visits.
How Better Lobby Helps
Better Lobby’s Appointment Booking Module was designed specifically to meet this need. It works across web and mobile channels, so members can schedule visits on their own terms, 24/7, without staff involvement. Features include:
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Branch and staff selection: Members pick where and who they’d like to meet with.
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Service type: Appointments can be tied to specific needs (mortgage, auto loan, new account, etc.).
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Reminders and confirmations: Automatic email and text notifications keep members on track.
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Staff integration: Branch employees see upcoming appointments, prepare accordingly, and deliver better service.
For managers, the system also provides valuable data—showing peak times, appointment types, and patterns that help with staffing and resource planning.
Key Takeaway
Branches are still the most powerful driver of growth for credit unions. But the secret isn’t just in keeping the doors open—it’s in making it easy for members to get through those doors. Appointment scheduling bridges the gap between digital convenience and in-person trust, ensuring that branches remain strong centers of relationship-building and sales.
Better Lobby makes this simple, effective, and scalable—helping credit unions win where it matters most: with their members.
The following section is the original post from March 2015. While some product names and screenshots may be outdated, we’ve kept it here for historical reference.
McKinsey & Company, a multinational management consulting firm with 108 global offices, recently conducted research on account openings in financial institutions. Their findings are quite interesting: in-branch sales converted at a rate of 85 percent while digital channels averaged a mere 15 percent conversion rate. Plus that 85 percent in-branch rate is actually closer to 100 percent when you consider that most of the 15 percent of applicants that were not converted to members/customers were declined by the FI for identity issues and/or fraud reasons.
Research from Fiserv and others shows that the retail branch remains the leading source of new product sales and account relationships for the majority of FIs. Some projections even show that branches typically account for at least 60 percent of all new product sales!
Key Takeaway: These statistics clearly point out why it is critical for credit unions to make it as easy as possible for their members to make appointments with them to visit their branches. Our Appointment Booking Tool supports both the Web and the Mobile channels so that members can make appointments at their convenience at their preferred branch without the involvement of staff.
Below is the original article from wib.org
Five Steps to Improving Branch Profitability
Getting Focused on the Right Things
By Andy Grinstead, Bank Intelligence Solutions from Fiserv
In recent years, the branch seemed headed for a smaller role in the retail distribution channel. Consumers were adopting online and mobile banking channels in larger numbers. At the same time, tough economic times led banks to close branches to cut costs.
Despite these trends, the retail branch remains the leading source of new product sales and account relationships for the majority of community banks. However, it is also by far the most expensive channel. According to Fiserv data, the cost of branches and related staff makes up 64 percent of all non-interest expense for the average bank.
Thus, it’s critically important that banks evaluate their retail distribution networks to balance opportunity with costs. By determining the role, footprint, strategic position and business focus of each location, institutions can boost profitability while managing both growth and risk. Here are five proven steps that banks can take to improve branch profitability.
Only 27 percent of surveyed bankers indicated that their business plans take current wallet share into account.
- Evaluate branch performance.
To maximize performance and build a sustainable earnings stream, the best-performing banks balance the three principal drivers of franchise value – profit, growth and risk. By comparing profit, growth and risk data for the bank against its peer institutions, a bank’s management team can establish goals for enhancing performance. Then, the financial institution can look at its individual branches to determine how to best align the day-to-day activities within each branch with the overall objectives of the franchise. - Assess the market and determine the role for each branch.
At most community banks, the chief financial officer (CFO) sets the budget and spreads it across the branches, with each location asked to meet the same percentage growth target. This approach typically results in setting goals that some branches may not be able to achieve, while other locations may have targets that are not aggressive enough. A more equitable and effective way to maximize the contribution of each branch is to establish unique customer acquisition, retention and cross-selling goals based on current market realities in each service area.Banks that tap into opportunities within their current customer bases are more likely to grow revenue organically, increase wallet share and improve retention rates. Yet, 73 percent of community bankers surveyed said their business development plans did not sufficiently recognize differences in wallet share among current customers. What this means is that bankers need better analytical tools and methods to help them understand the growth potential within their current customer base.
Banks also need to employ a fact-based approach in identifying its best new prospect opportunities. What business and consumer segments should each branch pursue? Having the data to answer this critical question enables banks to successfully compete for new business by knowing who to target and offering unique products to serve those segments.
- Analyze the competition for each branch.
Using analytical tools, bankers can identify which competitors have grabbed market share and grown deposits and which ones are falling behind. Understanding the strengths and weaknesses of the competition helps each branch develop effective business development plans and turn competitive intelligence into true business advantages. - Set specific goals by branch for business and consumer markets.
Many banks set goals for every metric they have. It’s best to identify a handful of the most important goals for each branch. When branch managers can focus their staffs on a few clear and specific objectives, they can align day-to-day activities and compensation plans to meet them. After completing the previous three steps, banks will be armed with the information needed to establish branch-specific goals and each branch can execute more targeted campaigns to drive customer origination, retention and expansion. - Define the bank model of the future.
What’s next? That’s the question when it comes to looking for ways to expand the number of products and develop loyal customers in a dynamic banking environment.As consumer behavior changes and basic financial transactions migrate away from the branch to the online and mobile channels, the branch needs to transform. Instead of a being a transaction-based storefront, the branch must evolve into a destination where consultative sales associates work to discover, anticipate and fulfill customer needs.
Adjusting Focus is an Ongoing Process
Branch strategy should be a constantly evolving process. This five-step approach can help community banks focus branch efforts on proactive outreach that will move prospects effectively through the sales cycle and deepen relationships with current customers. As a result, branches will be better positioned to achieve unique sales goals while maximizing their contribution to the overall profitability of the franchise.
Andy Grinstead is Senior Vice President and senior bank strategist for Bank Intelligence