One of the lessons learned from the recession is that employees really are a credit union's most valuable resource. With leaner resources in other areas, we relied heavily on our staff to do more and they stepped up and did things that they had not necessarily been called upon to do in the past.
Services that had previously been done by outside sources were brought in-house at great savings to the credit union, everything from how we manage materials to how we market our products and services were reviewed, and enhanced efficiency standards were implemented.
Instances of cost savings include the following:
1. When an employee leaves, the duties of the position are evaluated to determine if they could be handled by existing staff or if a replacement is indeed needed. This results in streamlining duties, which increase efficiency.
2. Marketing efforts are targeted more to specific groups rather than the more frequent mass approach to marketing that had existed previously. Campaigns are focused more on those demographics that would more likely benefit from or be interested a particular product or service.
3. E-mail messages to members are now sent by IT staff rather than having an outside company send them.
4. With the increase in online means of accessing our credit union's contact information, we have reduced the size and number of our phone directory yellow page listings.
Public Relations Specialist
Deseret First CU, Salt Lake City