NORTH HIGHLANDS, Calif. — For SAFE Credit Union, the best indicator of a potentially strong long-term relationship with a member is a checking account.
"I think the best measure of how good your new members are is to measure how many of them have the key quality indicators," said Henry Wirz, CEO of the $1.4 billion SAFE.
Those would be a checking account, direct deposits, an "active" debit card and line of credit and a mortage account, Wirz suggested, adding he likes to see 2.7 or more services per member, $9,500 or higher in shares, $7,500 or higher in loans and at least 40% as users of home banking.
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"I like to know how many members fall into the 18 to 34 age group and income of $30,000 per year," Wirz said. "This is the group that is most likely to need consumer loans and is the group that will develop into the key savers group later when they become 55 or older."
Wirz was responding to an Aite Group report titled The Evolution of the U.S. Credit Union Market, a survey of 101 credit unions with more than $100 million in assets. Thirty-four percent of respondents said finding ways to attract new members is among their top challenges.
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