SEATTLE — Using employee incentives and a corps of "retention specialists," the $3 billion Kinecta Credit Union is scoring sharp gains in membership retention, attendees at the annual Marketing Association of Credit Unions conference were told Thursday.
"Our monthly closures have dropped in half" since the program began earlier this year, said Kathryn Davis, vice president of marketing at the Manhattan Beach, Calif. credit union.
The designated specialists at branches and at other sites are given $5 for every member retained and can earn $10 for cross-sells. "It doesn't sound like much but it's got our staff excited," said Davis addressing a breakout session at the MACU conference, which winds up its three-day conference today at the Sheraton Seattle Hotel.
Recommended For You
Previously, Kinecta was finding that of 2,000 members signed up each month, with a large part through indirect, "1,500 memberships were closing every month," said Davis noting the California CU had "huge membership goals of 15,000 annually and so "Kinecta needed a member retention strategy" that would be successful.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
