ROCK HILLS, S.C.-The concept of saving money and driving revenue has become part of the fabric of ArrowPointe FCU since the recession.
Felicia Pope, director of marketing and business development, said that the difficult times for the entire nation helped the CU's staff realize that the small things add up. "Our credit union, like many others, cost cut wherever possible. We became very mindful of what we spent."
What helped bring about that perspective, shared Pope, is ArrowPointe's CEO, Tim Lyda, breaking down savings objectives into understandable chunks, things employees could relate well to, she said. "For example, he explained it would take a little less than half of our members moving to e-statements to save the credit union $30,000."
Pope said that not only helped drive home the value of talking to members at every opportunity about converting to more electronic services, it also let staff know that to save money it would be one small step at a time. "From a marketing standpoint it helped me understand that each person the front line speaks with can have an impact on the bottom line. It got people doing things they were not normally accustomed to doing."
One of those things, said Pope, was getting loan officers to look closely at a credit report each time members applied for a loan to find other loan opportunities. "We really had not been doing much of that prior to the recession. Today, we do it all the time."