Can Using an `Organic' Approach to Boost Membership Work?
WASHINGTON - For some credit unions, following an organic approach to boosting member numbers may be the way to go. Annual member growth at the end of Sept 30, 2004 was only 2.3%, according to Callahan & Associates, Inc. Almost half of America's credit unions lost members over the previous 12 months. However, some credit unions pursued "organic growth strategies" that led to double digit growth rates, Callahan pointed out. Callahan will host a Webinar at 2 p.m. EST on Jan.13 on "Organic Member Growth Strategies: Expanding Membership through SEG Development." Speakers will include Lisa Carr, vice president, sales & marketing at $550 million Corporate America Family CU, who will discuss how the credit union expanded their product offerings to appeal to a broader range of employees; how their business development efforts are organized around their branch network; and provide concrete examples of tracking and reporting measures led to their success. Log on to www.creditunions.com for more details on the Webinar.