Credit Union Journal | Monday, December 5, 2011
Credit Union Journal's Best Practices Awards for 2011 offers a host of great ideas with proven results that CU executives can try out at their own credit unions. It's all part of CU Journal's mission of helping CUs grow and better serve their members.
Improved Communication Leads to Loan Growth
AUSTIN, Texas-What began as a push to improve internal communication resulted in an increase in one credit union's Net Promoter Score, along with increased loan growth and employee retention.
CU Goes Well Beyond Transactional Business
HOBART, Ind.-Many credit unions rely on shared branching networks to make banking more convenient for their members, and often that means simple transactions.
Direct Marketing Bolsters New Branch
LEESBURG, Va.-When it opened a new branch in a dense residential area with little commercial development, Northwest FCU turned to direct marketing to get the word out-very direct marketing.
Revamped IT Drived Membership Growth at STCU
SPOKANE, Wash.-Spokane Teachers Credit Union here has implemented a number of changes it credits for helping it to add more than 900 new members per month-and that was before the recent Bank Transfer Day effort.
Bringing Legal Expertise In-House Pays Off
ALEXANDRIA, Va.-When one CU decided to hire in-house counsel to improve its efforts around collection items referred for litigation, it knew it was a good idea-it just didn't know how good.
Risk-Based Lending Helps Members During Recession
NORCROSS, Ga.-What it describes as a "very credit union-ey" product has helped members with weak credit scores here to get a vehicle.
Mobile Deposits Take Off at Digital FCU
MARLBOROUGH, Mass.-Digital FCU (DCU) here has boosted its mobile deposit numbers to the point where nearly 50% of all remote deposits come via mobile channels, earning it a Credit Union Journal "Best Practice" award in the Mobile Deposit category.
SECU Cushions the Blow After Massive Layoffs
RALEIGH, N.C.-With approximately 7,500 North Carolina state employees facing layoffs as a result of a $2.7-billion budget deficit, State Employees' CU sprang into action.
JACKSONVILLE, Ark.-Some credit unions are finding those debit promotions that have ramped up the past few months are reeling in more than checking accounts, they're attracting profitable members.
Allegacy FCU Program Keeps Premiums Flat
WINSTON, Salem, N.C.-While most CUs likely face another large premium increase for employee health insurance, one credit union expects its costs to remain stable-if not decline-for the next benefits year.
Connex CU 'Team' Answers Questions
NORTH HAVEN, Conn.-Connex CU's director of training is in the middle of leading a course when her phone rings. She stops the class, takes the call, and provides information that eventually helps a member.
Internal Landing Page Paying Dividends
DALLAS-After operating with the same intranet for a decade, American Airlines Credit Union decided it was time to launch a "living, breathing landing page."
Getting Proactive Brings In Loan Dollars
WINSTON-SALEM, N.C.-One credit union has learned just how much better it is to be proactive and seek out refinancing opportunities than to just advertise it offers great rates.
How SECU Remains Nimble & Responsive
RALEIGH, N.C.-With 1.7 million members and $23 billion in assets, State Employees' CU here is the second largest CU in the U.S. But despite its size, SECU still strives to remain innovative in ways other CUs struggle to be. SVP of Education Services Leigh Brady said that SECU's strategy is simple: Listen to the needs of the members.
VacationLand FCU Seeks To Move To Top of Mind
SANDUSKY, Ohio-Credit unions may struggle with awareness and misconceptions about membership, but one CU believes it's actually lack of relevance that is often the biggest detractor to growth.
Show Me The Money? Nah, What Else You Got?
PLYMOUTH, Minn.-After instituting a new sales and service culture in January and tying it to an employee-incentive program, TruStone Financial FCU here has seen a 56% year-to-date increase in its membership numbers-and that was prior to all the hubbub around Bank Transfer Day.
The Golden 1's Outreach Spans Across Its Market Areas
SACRAMENTO, Calif.-The Golden 1 Credit Union had a lofty goal for giving back in 2010-to have each department and branch participate in at least one community outreach activity.
WestStar Addresses A Big Concern of Many
LAS VEGAS-In a market with 14% unemployment, it was clear members without jobs weren't going to look to borrow.
Mortgage With 10-Year Term Generates $19M In Loans For Connex
NORTH HAVEN, Conn.-Connex CU believes a 10-year home loan is perfect for the current economy and has the numbers to prove it-$19 million from 148 loans over five months.
Alumni of Pen Air FCU University Make Better Employees
PENSACOLA, Fla.-Spending $20,000 annually on a comprehensive employee training program is a small price to create a pool of talented leaders who are driving CU performance, says Pen Air FCU.
How To Smoothly Process 430 Loans
INDIANAPOLIS-Too much business is never a bad thing, but you have to be able to support it if you're going to benefit from it.
Tool Puts A Number On Savings At CCU
NORTH HAVEN, Conn.-It's more effective to show people what they can save at the credit union rather than tell them about it.
Interactive Steps Raise Online Awareness
LAKE MARY, Fla.-After being named Central Florida's best credit union for the fourth time by local media, CFE FCU here set out to do more to raise awareness of its brand via its Facebook page and a Web Hunt game.
'Personal Bankers' Assigned To Every Member
EL SEGUNDO, Calif.-Xceed Financial Credit Union's "Personal Banker" program is paying off with higher loan balances and more account relationships among participating members.
San Francisco FCU Finds Medallion Loans Pay The Tab
SAN FRANCISCO-When other financial institutions passed on working with a local agency on a loan program to help drivers purchase a taxi medallion, the $770-million San Francisco Federal Credit Union stepped up.
MACU Institutes Numerous Improvements
WEST JORDAN, Utah-Mountain America Credit Union hasn't put in place one Best Practice as much as it has installed Best Practices across the enterprise.
13-Mo. Lending Skid Gives Way To 11 Mos. Of Growth
CHARLESTON, W.Va.-Pioneer West Virginia FCU has completed an impressive turnaround.
Partners FCU Pioneers Way To Get Effectively Focused
BURBANK, Calif.-A "Synergy Department" at Partners FCU has helped drive a Best Practice for growth.
Why Pioneer WV FCU Chose To 'Reboot'
CHARLESTON, W.Va.-Sometimes the best thing for a struggling credit union is to start over.