Syncing Sales With Service May Propel CU Brand
Want to grow your credit union?
First step, get over the stigma and negative connotations associated with the word 'sales.'
“When I came to the credit union nine years ago, the organization did not have an incentive plan or even a business development plan for that matter,” Hitchcock recalled.
In the beginning, E-Central’s goals were a simple part of a building block to a more robust program, he said. Today, business development representatives have monthly goals for checking accounts, home and auto loans and new deposits. These goals are tied to the credit union’s organizational growth goals.
“Prior to launching the Swipe promotion back in October, our members were averaging less than 11 swipes [per] month,” said McGraw. “Since the launch of the campaign, the members who have joined the credit union are now swiping an average of just under 17 swipes [per] month.”
The original promotion was set to expire on April 30, but due to its great success, McGraw said it has been adopted as a permanent feature to new checking accounts. Now, any new checking account will have an opportunity to earn up to $5 each month for the first six months.