CHANTILLY, Va. - Ron Daly, a former CFO of the $650 million Northwest FCU, Herndon, Va., has retired from the CU to start a new tech firm specializing in electronic statements. The new firm, Digital Mailer, provides credit unions with customizable electronic member statements, with an emphasis on one-to-one marketing. "Members log into their credit union's Web site to pick up their statement. Our software knows they don't have a certain product, such as a Visa card, and will cross-sell them a Visa using a banner ad embedded on the page," said Daly. Daly, who worked for Northwest FCU for 20 years, said that a banner ad can then take a member to an online Visa application. "Banks are going to kill credit unions if they don't start doing this target marketing," said Daly. Daly said credit unions that e-mail monthly statements to members are making a mistake. "You want the members to come to the home page. If you're e-mailing they don't have to do that." Digital Mailer, which runs on a Microsoft platform, takes the credit union's statement print stream and converts it to electronic text. Daly is a one-man show for now, he said, but expects relatively fast growth. He has signed up his former CU as his first client. -pgentile@cutimes.com
From the June-28, 2000 issue of Credit Union Times Magazine • Subscribe!
CU exec resigns to start e-statement firm
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