5 Most Dangerous Trends Facing Credit Unions

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We commissioned an independent study on the 5 Most Dangerous Trends Facing Credit Unions in 2008 and 2009. …

We commissioned an independent study on the 5 Most Dangerous Trends Facing Credit Unions in 2008 and 2009.

We uncovered several astonishing trends, and captured the Top 5 for you in this powerfully-compelling Executive Briefing.

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  • 1. The 5 Most DANGEROUS Trends Facing CREDIT UNIONS A comprehensive research study by Empire Research Team Presentation Rights Granted to J. Mark Walker Integrity Solutions, LLC © 2008 Empire Research Team
  • 2. © 2008 Empire Research Team Areas Covered
    • An Overview of the Credit Union Industry & Marketplace
    • Dangerous Trend #1 – Competition, Competition & Competition
    • Dangerous Trend #2 – Declining Growth Coupled with Weak Loan Demand
    • Dangerous Trend #3 – High Employee Turnover with Depleting Skill Sets
  • 3. © 2008 Empire Research Team Areas Covered
    • Dangerous Trend #4 – Weak Marketing and Diminishing Loyalty
    • Dangerous Trend #5 – Falling Behind with Technology and Not Attracting Younger Members
    • Determine YOUR Trend
  • 4. © 2008 Empire Research Team Areas Covered
    • Why Training Events Don’t Improve Performance
    • Culture Development Becomes KEY
    • Client Results
    • Next Steps
  • 5. © 2008 Empire Research Team An Overview of the CREDIT UNION Industry & Marketplace
    • One small credit union disappears every day
    • 50% of Credit Union CEOs will retire within 10 years
    • Since 2006 – Credit Union growth has slowed, and bank growth has picked up
    Tim McAlpine, President Currency Marketing; Credit Union National Association
  • 6. © 2008 Empire Research Team An Overview of the CREDIT UNION Industry & Marketplace
    • 40% of CU members are “moderately loyal” or “not at all loyal” to their credit union
    • 16 – 30% of consumers change brand loyalty in one evening of watching commercials
    • 321 credit unions closed their doors so far in 2008
    National Member Survey Report; The Ultimate Sales Machine – Chet Holmes 2007
  • 7. © 2008 Empire Research Team DANGEROUS Trend #1 Competition, Competition & Competition
  • 8. © 2008 Empire Research Team DANGEROUS Trend #1 – Competition, Competition & Competition
    • As of 2006…
    • Credit Union growth has slowed, and bank growth has picked up.
    • Bank growth has outpaced that of Credit Unions for the past two years .
    • Additionally, the size of the banking industry continues to dwarf the Credit Union community.
    Sacramento Business Journal - by Mark Anderson
  • 9. © 2008 Empire Research Team
    • Delta Community Credit Union ($2.1 billion in deposits), and Georgia's Own Credit Union ($1 billion in assets) at the end of 2007 - are both tiny compared with banking GIANTS in the Atlanta market such as SunTrust and Wachovia, with more than $29 billion and $21 billion , respectively, in local deposits last year.
    • The vast majority of the nation’s Credit Unions (about 90 percent) have less than $50 million in assets .
    Cox News Service, June 9 th 2008; Credit Union Management,  Jul 2007 - Gilpatrick, Kristin DANGEROUS Trend #1 – Competition, Competition & Competition
  • 10. © 2008 Empire Research Team At $232 billion, consumer installment credit outstanding at Credit Unions (CUCIC) is down 1.7% YTD. BANKS are posting the strongest annual growth at 10.8% FINANCE COMPANIES at 9.2% SAVINGS INSTITUTIONS & Non-Financial Businesses at 2.8% CREDIT UNIONS at a -0.8% CUNA Mutual – Economics ● June 2008 (April 2008 data) DANGEROUS Trend #1 – Competition, Competition & Competition
  • 11. © 2008 Empire Research Team The World Council’s surveys of Credit Union movements and their regulators, made it abundantly clear that competition INCLUDES Credit Union vs Credit Union . DANGEROUS Trend #1 – Competition, Competition & Competition
  • 12. © 2008 Empire Research Team “ They simply don't have the scale to offer all the products and services that members demand. They also have to fight harder for members since deregulation of membership rules in the last decade spurred competition for clients.” www.BizJournals.com Some large Credit Unions are opening local branches at a faster pace, but many Credit Unions that have served the area since the 1930s are shrinking. DANGEROUS Trend #1 – Competition, Competition & Competition
  • 13. © 2008 Empire Research Team Best Strategies to OVERCOME the Negative Trend Competition, Competition & Competition
    • Implement a SYSTEM of CREATIVE PROGRAMS that Attract and Engage prospective members.
    • Establish a Culture within your Credit Union of CONNECTING and FINDING WAYS of CONNECTING with your members and prospective members.
    • Teach your staff to OUTBEHAVE your competition.
  • 14. © 2008 Empire Research Team DANGEROUS Trend #2 Declining Growth, Coupled with Weak Loan Demand
  • 15. © 2008 Empire Research Team DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand CUNA Mutual – Economics ● June 2008 (April 2008 data) At the end of April 2008, CUNA Economics & Statistics reported 8,297 credit unions for a net year-to-date decline of 99 institutions and 307 over the past twelve months .
  • 16. © 2008 Empire Research Team This is consistent with the merger trends reported by the NCUA in their Insurance Report of Activity . The current marketplace forecast indicates 8,075 CUs by year-end for a net decline of 321 CUs in 2008 versus the 266 decline experienced in 2007 . CUNA Mutual – Economics ● June 2008 (April 2008 data) DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 17. © 2008 Empire Research Team Typical Example: Of the 22 Credit Unions based in Sacremento, CA: 12 branches lost members from 2003 to 2004… even as the area's population GREW by about 1.7 percent . Sacramento Business Journal - by Mark Anderson DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 18. © 2008 Empire Research Team CUNA Mutual – Economics ● June 2008 (April 2008 data) Current Credit Union loan growth is currently 1.1 percentage points BELOW its long-term trend rate of increase. What has been supporting the majority of the growth so far…? DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 19. © 2008 Empire Research Team CUNA Mutual – Economics ● June 2008 (April 2008 data) Real Estate Secured Loans are the current primary source of growth. Over the past year, real estate secured loans have accounted for 93% of all loan growth. DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 20. © 2008 Empire Research Team CUNA Mutual – Economics ● June 2008 (April 2008 data) “ Given the unfolding events in the U.S. housing and credit markets and further price erosion (declining collateral valuations) predicted by almost all forecasters, we are concerned about the risks and sustainability of this loan growth source . The alternative would be to put a hold on real estate and business lending and thus lose relevance with members.” DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 21. © 2008 Empire Research Team “ The automotive sector of the economy continues to be battered by rapidly rising gas prices, declining employment and unprecedented levels of consumer uncertainty . All of this translates into extremely weak new vehicle sales now and into the foreseeable future .” On a year-over-year basis, Total Vehicle Loans are down 0.4% The New Vehicle Portfolio segment is down 4.0% YTD and 5.1% over the past year (’07) . Expect the total vehicle loan portfolio (New & Used) to decline by almost 1% in 2008 . DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 22. © 2008 Empire Research Team Credit Union capital growth slowed to 4.9% in April 2008. A closer look reveals 2,902 CUs (35% of CU assets) had an annualized ROA of less than 50 bps in the first quarter .
    • Return on Assets (ROA) figures:
    • 84 basis points (bps) in ‘06
    • 64 bps in 2007
    • 60 bps at the end of the first quarter 2008.
    www.CreditUnions.com DANGEROUS Trend #2 – Declining Growth, Coupled with Weak Loan Demand
  • 23. © 2008 Empire Research Team Best Strategies to OVERCOME the Negative Trend Declining Growth, Coupled with Weak Loan Demand
    • Build a PLAN OF ACTION that is Systematically Implemented through to the entire staff (from the CEO down).
    • Teach your staff the Sales Principles that CONSISTENTLY GENERATE more products per member household.
    • Utilize the Collective Creativity and Insights of your staff to CREATE SOLUTIONS and PROGRAMS to Attract new members.
  • 24. © 2008 Empire Research Team DANGEROUS Trend #3 High Staff Turnover, Coupled with Depleting Skill Sets
  • 25. © 2008 Empire Research Team DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets How to Break the Negative Staff Retention Cycle - October 1, 2006, By Colin Piper Credit union employee turnover is on the RISE! According to the Credit Union National Association's (CUNA) 2006 Complete Credit Union Staff Salary Survey Report. Credit Union employee retention dropped from 84% in 2005 to 78% in 2006
  • 26. © 2008 Empire Research Team How to Break the Negative Staff Retention Cycle - October 1, 2006, By Colin Piper Not only does this spell trouble for Credit Union management who must 1) Interview 2) Replace and 3) Train new employees… it also greatly--and negatively--affects member relationships. DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 27. © 2008 Empire Research Team How to Break the Negative Staff Retention Cycle - October 1, 2006, By Colin Piper The teller lifespan has averaged one year , while the average member service representative tenure is limited to just three years . “ This means credit unions constantly are hiring new people who deal directly with members--the frontline staff--and your members have to reacquaint and familiarize themselves with new employees .” DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 28. © 2008 Empire Research Team Scope Out CEO Search Services - August 1, 2006 – Patrick Totty
    • Two trends facing CEO’s of the Credit Union industry:
    • Baby boomer credit union CEOs are nearing retirement age, which calls for succession planning.
    • Intense competition is forcing credit unions to seek CEOs savvy in marketing, finances, and sales--sometimes from banks.
    DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 29. © 2008 Empire Research Team 'Credit unions are getting serious about succession planning because more than 50% of Credit Union CEOs will retire over the next 10 years ,' says Greg Fouks, managing director of executive search at HRValue Group, Middleton, Wis. Scope Out CEO Search Services - August 1, 2006 – Patrick Totty DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 30. © 2008 Empire Research Team The Credit Union Executive CUNA's Credit Union Executive Newsletter estimates it costs $50,000 to replace just one employee, taking into account only tangible expenses. DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 31. © 2008 Empire Research Team
    • National turnover percentages are estimated to be 25% per year .
    • If, for every 10 employees, you replace two per year , that is $100,000 of direct cost , not considering the cost of the member relationships affected.
    • Gallup Organization demonstrates that people “leave managers, not organizations .”
    The HIGH COST of Turnover DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 32. © 2008 Empire Research Team
    • Most Baby Boomer managers are confounded by the attitudes and behaviors of “Generation X and Y” employees now entering the workforce.
    • Many credit union employees DO NOT have a clear idea of how their daily activities and behaviors impact the effectiveness and success of their employer .
    DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 33. © 2008 Empire Research Team www.CreditUnionMagazine.com/story.php?doc_id=434
    • “ To break this cycle, Credit Unions must provide the tools and support these professionals need to be successful. Employee retention, in fact, is a direct result of value .”
    • Do your employees feel valued?
    • Do they value your organization?
    • Are you providing the technology and knowledge to positively answer these questions?
    DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 34. © 2008 Empire Research Team www.CreditUnionMagazine.com/story.php?doc_id=434 The Harvard Business Review found 'the opportunity to do important work that gives a feeling of accomplishment' is a bigger motivator for employees than pay . This, again, points to the need to have the right tools and processes in place on the front line . DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 35. © 2008 Empire Research Team www.CreditUnionMagazine.com/story.php?doc_id=434 Sales effectiveness tools can prompt the front-line staff to, for example… discuss mortgage options to members looking for a home… savings accounts to members who are expecting a child… Giving staff the tools that enable them to be successful is the first step to breaking the negative retention cycle. DANGEROUS Trend #3 – High Staff Turnover, Coupled with Depleting Skill Sets
  • 36. © 2008 Empire Research Team Best Strategies to OVERCOME the Negative Trend High Staff Turnover, Coupled with Depleting Skill Sets
    • Institute and Monitor a Working Environment that Sustains a CULTURE of Involvement and Strong Unity of the entire staff.
    • Test and continually implement a Productive Culture that is MENTORED by Management.
    • Continually (with REINFORCEMENT) Improve the Sales Skills and Effectiveness of your member service staff.
  • 37. © 2008 Empire Research Team DANGEROUS Trend #4 Weak Marketing & Diminishing Loyalty
  • 38. © 2008 Empire Research Team DANGEROUS Trend #4 – Weak Marketing & Diminishing Loyalty The National Member Survey report reveals that members, prefer choosing a bank over their Credit Union as their Primary Financial Institution (PFI) by nearly a 3-to-2 margin http://advice.cuna.org/research_review/research_review_21.html
  • 39. © 2008 Empire Research Team DANGEROUS Trend #4 – Weak Marketing & Diminishing Loyalty
  • 40. © 2008 Empire Research Team A FULL 76% of members in this Trends Report survey identified themselves between ‘Moderately Loyal’ to ‘Not At All Loyal’ to their Credit Union 2007 Credit Union Trend Report DANGEROUS Trend #4 – Weak Marketing & Diminishing Loyalty
  • 41. © 2008 Empire Research Team Diverging trends in Credit Unions… Sacramento Business Journal - by Mark Anderson Staff Writer – Friday, March 11 th 2005 Credit Unions naturally lose members when people move, die or simply close accounts. If the credit union doesn't attract new members, it starts shrinking… DANGEROUS Trend #4 – Weak Marketing & Diminishing Loyalty
  • 42. © 2008 Empire Research Team Diverging trends in Credit Unions… Sacramento Business Journal - by Mark Anderson Staff Writer – Friday, March 11 th 2005 "It is very difficult to pick up new members when you are small. You don't have the marketing presence or the branch presence to attract new members ," said Henry Wirz, Chief Executive of SAFE Credit Union . DANGEROUS Trend #4 – Weak Marketing & Diminishing Loyalty
  • 43. © 2008 Empire Research Team 'Credit Unions are placing more emphasis on marketing and developing a sales culture ,' says Yvonne Evers, President/CEO of HRValue Group. 'It took them awhile to realize they need marketing skills. While a lot of [Credit Unions] did promote from within, sometimes even taking managers from their sponsor group, they now realize they need financial expertise, not just good management skills.' DANGEROUS Trend #4 – Weak Marketing & Diminishing Loyalty
  • 44. © 2008 Empire Research Team Best Strategies to OVERCOME the Negative Trend Weak Marketing & Diminishing Loyalty
    • The Executive and Leadership Team, must have the COURAGE to Face the TRUTH!
    • Implement an Ongoing Educational System that helps your staff Understand their role in INCREASING BUSINESS for the Credit Union.
    • Because we know that ‘Loyal Employees Create Loyal Members’, FOCUS on Initiatives to create more loyalty within your entire staff.
  • 45. © 2008 Empire Research Team DANGEROUS Trend #5 Falling Behind Technology & Not Attracting Younger Members
  • 46. © 2008 Empire Research Team DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members CEOs Need to be In Tune with Technology The specific qualities Credit Unions seek in new CEOs, regardless of their origin, include: ‘ the need to be in tune with technology , which has become more important over the years because of the need to compete on economies of scale with larger financial institutions’ says Steve Swanston, executive vice president of sales at John M. Floyd & Associates, Baytown, Texas. Components of a Competitive CEO Compensation Package By Kristina Grebener / Senior Research Analyst · Credit Union National Association
  • 47. © 2008 Empire Research Team CEOs Need to be In Tune with Technology “ Attracting and retaining younger members is very important to the Credit Union for sustaining our growth.” said Richard Roark, Travis Credit Union’s Vice President of Information Technology. Friday, May 9, 2008 - East Bay Business Times, by Michael Fitzhugh DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 48. © 2008 Empire Research Team CEOs Need to be In Tune with Technology Friday, May 9, 2008 - East Bay Business Times, by Michael Fitzhugh Travis Credit Union’s members are becoming more dependent on electronic delivery channels , and many of its most technically savvy members are frequently using Apple Inc.'s iPhone to access the Credit Union's web site, he said. DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 49. © 2008 Empire Research Team NetBanker.com A SNAPSHOT of Online Activity & New Technology Usage in the Financial and Banking Industry:
    • During the past 14 months, more than 280,000 messages have been posted on the Prosper.com discussion forum, according to CEO Chris Larsen ( Prosper is America's largest people-to-people lending marketplace)
    • Shari Storm, CMO, Verity Credit Union, said that 1% of its new members named the blog when asked how they heard about Verity . The Credit Union's blog, now has 1,000 readers .
    DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 50. © 2008 Empire Research Team NetBanker.com A SNAPSHOT of Online Activity & New Technology Usage in the Financial and Banking Industry:
    • Key Bank's most popular podcast, “ Top Stock Picks ” by John Caldwell , has recorded 70,000 visits and 12,000 unique users , according to Interactive Marketing Manager Mickey Mencin.
    • Colin Henderson of BankWatch also cited Forrester Research findings that 50% of recent financial buyers did ALL of their research online ; 30% performed both on- and offline research; and just 20% conducted all the research offline.
    DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 51. © 2008 Empire Research Team Friday, May 9, 2008 - East Bay Business Times, by Michael Fitzhugh In two separate member surveys from Travis Credit Union in Northern California, the Credit Union found that 27% of its members were either interested or very interested in mobile banking . DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 52. © 2008 Empire Research Team Friday, May 9, 2008 - East Bay Business Times, by Michael Fitzhugh “ Credit Unions don't always offer the variety of ways to access online banking that BIGGER BANKS can.” For Example: Wells Fargo offers its customers mobile Web browser-based access to their accounts , and lets customers send short text messages to the bank in order to access account balances and review their most recent account activity – something many Credit Unions do not .” DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 53. © 2008 Empire Research Team http://www.creditunions.com/events/webinars/ DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members The Gen Y Market By 2017, Gen Y is expected to control a $3.48 trillion income (Passing baby boomers by $500B) 18-24 year olds represent 17% of the US population, but only 6% of CU Membership
  • 54. © 2008 Empire Research Team http://www.creditunions.com/events/webinars/ The aging of Credit Union membership is a growing trend, since 69% are 55+. Now, many Credit Unions are asking: “ How can we train our staff, and implement systems to be more relevant to younger generations?” DANGEROUS Trend #5 – Falling Behind Technology & Not Attracting Younger Members
  • 55. © 2008 Empire Research Team Best Strategies to OVERCOME the Negative Trend Falling Behind Technology & Not Attracting Younger Members
    • Research, Test and Safely Engage in New Media, Social Marketing Online and New Technologies that your Target Market is ACTIVELY ENGAGED in now.
    • Like Attracts Like. Initiate programs that ATTRACT younger staff, and keeps them LOYAL to your Credit Union.
    • Actively ENGAGE your staff with a CULTURE of Consistent Creativity with the management for Suggestions and Involvement.
  • 56. © 2008 Empire Research Team Determine YOUR Trend Now that you’re aware, You MUST establish a trend towards…
  • 57. © 2008 Empire Research Team Determine YOUR Trend The successful transformation from a service culture to a service-selling culture is challenging. Many Credit Unions have shunned the notion that embracing a sales philosophy is in the best interest of members. A service-selling process that reinforces your values.
  • 58. © 2008 Empire Research Team Your Challenges
    • Most performance improvement development strategies for service professionals focus on skill development.
    • As a result, the underlying root cause factors of customer service success often go unaddressed , resulting in modest or no sustainable performance improvement .
  • 59. © 2008 Empire Research Team Your Challenges
    • The hidden gaps linked to a person’s
    • Attitudes
    • Beliefs
    • Values
    • that undermine their ability to achieve their full potential MUST be IDENTIFIED and ADDRESSED in order to achieve significant breakthroughs in performance improvement .
  • 60. © 2008 Empire Research Team Why Training Events Don’t Improve Performance
    • Most Trainings Are:
    • Event-based
    • Stress cognitive understanding
    • May include “role-play” activities but application is often self-directed
    • May offer optional follow-up component
  • 61. © 2008 Empire Research Team Why Training Events Don’t Improve Performance Ebbinghaus & Goddard The Forgetting Curve
  • 62. © 2008 Empire Research Team Culture Development Becomes KEY
    • Training moves from “events” to a “developmental process” that is part of the organization’s daily focus.
    • Organizational alignment becomes a high priority for the Executive Team.
    • Individual managers and employees become personally and professionally aligned with the goals of the Credit Union.
    • A “coaching culture” focuses on building the person, so the person will focus on building the business.
  • 63. © 2008 Empire Research Team Culture Development Becomes KEY
    • The Integrity Solutions ® Approach
    • Is process-driven
    • Impacts at emotive level; develops people “ from the inside out .”
    • Employs “discovery” and “action learning” with real world application
    • Utilizes a facilitated seven week process with six monthly advanced sessions
  • 64. © 2008 Empire Research Team The Behavior Change Process P E F O R M A N C E I M P R O V E M E N T SEMINAR WEEK 2 WEEK 4 WEEK 6 WEEK 8 WEEK 9 - MONTH 9 MONTH 10 - 12
  • 65. © 2008 Empire Research Team Credit Unions MUST…
    • Build deeper, more value-based Member Relationships.
    • Provide a positive, consistent Member Experience.
    • Increase Member Retention and Product Penetration per household.
    • Develop a model of service / sales professionalism with a member - focused common link/common language throughout the CU.
    • Accelerate performance improvement by developmental - focused coaching.
  • 66. © 2008 Empire Research Team Culture Development Becomes KEY
    • Generational differences become a reason to succeed rather than a problem to overcome.
    • Employees are empowered to solve problems that Members bring up, within the goals of the enterprise.
    • Managers and employees focus on customer needs more than fulfilling the rules.
    • Front line managers and supervisors see themselves as “people builders.”
  • 67. © 2008 Empire Research Team What Employees Learn
    • How Their Job Impacts Member Satisfaction and Loyalty
    • The Importance of Attitudes, Values & Ethics
    • Six Step System to Identify and Fill Members Needs
    • Simple Behavior Styles Language
    • Real World Application
  • 68. © 2008 Empire Research Team Where to Begin… Begin with a comprehensive assessment that MEASURES the KEY Attitudes, Beliefs, Values, Skills and Behaviors that IMPACT success. Areas Such As:
    • Goal Clarity
    • Achievement Drive
    • Emotional Intelligence
    • Social Skills
    • Understanding Member Needs
    • Coachability
    • Helping Members
    • Commitment to Development
    • Greeting Members
    • Inviting Members Back
    • Values
    • Valuing Members
    • Solving Problems
    • Commitment to Activities
    • Identifying Needs
    • Making Decisions
    • Belief in Organization
    • Listening to Members
  • 69. © 2008 Empire Research Team Where to Begin…
    • Discover the hidden performance gaps undermining the effectiveness of your service organization.
    • Pinpoint the focus of your service team development strategy to maximize relevancy and impact.
    • Determine the talents and development areas of each service professional.
    • Provide a coaching roadmap for managers.
    • Identify the critical success factors of your top performers.
    Our results-oriented assessment has helped Credit Unions:
  • 70. © 2008 Empire Research Team BREAKTHROUGH Client Results Mountain America Credit Union
    • Reduced Employee Turnover from 27.82% to 25.33%
    • Increased Deposit Balances/Household from $6,748 to $10,816
    • Increased Members from 91,612 to 172,679
    • Increased Branches from 21 to 48
    • Increased Asset Growth from 12.1 to 21.12
  • 71. © 2008 Empire Research Team BREAKTHROUGH Client Results Baptist Health South Florida Federal Credit Union
    • GAP Insurance Sales Skyrocketed from 5% to 75%
    • Steady Month-to-Month Average Net Increase of 50 Members
    • Substantially Increased Sales of Vehicle Warranties – Currently 35% of Cars Have Warranty Attached
  • 72. © 2008 Empire Research Team BREAKTHROUGH Client Results Orlando Federal Credit Union
    • Increased 344 New Members in 1st Quarter 2008
    • Increased Employee Sales Rewards from 3.1% to 4.62%
    • Decreased Sales & Service Employee Turnover by almost 35%
  • 73. What’s Next?
    • Which trends were most significant to you?
    • How willing are you to explore some options for dealing with those trends?
    • Schedule a Diagnostic Interview with us.
    © 2008 Empire Research Team
  • 74. © 2008 Empire Research Team Thank You For being with us Today J. Mark Walker www.IntegritySolutions.com [email_address] Direct: 770.578.1345