MADISON, Wis. (December 29, 2011) — Interest in mobile banking is on the rise as smart phone usage increases, yet with this new technology comes uncertainty about the best way to implement it.

A new white paper from the CUNA Technology Council, titled “Maximizing Mobile Banking’s Potential,” provides guidance on how credit unions can get the most from the implementation of mobile banking.

“Mobile banking usage is predicted to balloon from 11% of US households in 2012 to 30% by 2015, with the number of individual users exceeding 50 million,” according to the white paper by Dale Davaz, Spokane Teachers Credit Union’s Director of eBusiness.

The paper, based on data gathered as part of a recent survey of Spokane Teachers Credit Union members about their mobile phone usage and mobile banking interests, discusses the different implementation options available, specific features of most interest to users, and potential security concerns that should be considered by credit unions looking to offer mobile banking to members.

CUNA Council members are entitled to complimentary copies of these and more than 300 white papers; non-members may purchase the white papers for a price of $50 per copy. 

The paper is available online in the white paper section of www.cunacouncils.org – select the “Tech” tab.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

Madison, Wis. (December 29, 2011)– The economic fallout from the Great Recession continues to impact the households of credit union members and add urgency to the work of credit unions’ collections departments, according to a new CUNA Lending Council White Paper.

Collections in a Post-Recession Environment is based on information gathered from lending and collections leaders at six credit unions as well as two experts from companies that  provide outsourced collections services for financial institutions.

The white paper explores how credit unions can update procedures, use technology, engage members early in the collections process, design loan modifications and take other steps to refine collections.

Credit unions report that a segment of members who have delinquent loans in the post-recession environment are from formerly affluent households and may still have relatively high credit scores. These households were able to use their assets to cope with financial demands as they adjusted to being unemployed or underemployed. But as assets are exhausted and members are unable to find jobs, the household falls behind on payments, loans enter collection and they may even file for bankruptcy.

This challenging post-recession environment offers an opportunity for collections to prove its worth to the credit union.

“Collections has always been on the back burner,” noted Jessica Anderson, Collections Manager at $400 million asset 121 Financial Credit Union, Jacksonville, Fla. “We know they’re making a difference, but we’ve never seen the true impact of collections’ successes or losses until we’ve reached these economic times.”

CUNA Council members are eligible to receive complimentary copies of this, and nearly 300 other white papers; non-Council members may purchase white papers for $50 per copy.

The papers are available online in the white paper section of www.cunacouncils.org – select the “Lending” tab for both.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

MADISON, Wisc. (December 21, 2011) – Credit unions looking to grow their profitability must look beyond their revenues, expenses and profits. Instead, they must begin to understand the profitability of their general membership, as well as each member’s individual contribution to profit or their Member Lifetime Value (MLV), according to a new CUNA Operations, Sales & Service Council white paper.

Entitled “Building Member Lifetime Value,” the white paper discusses five strategies used by credit unions to leverage MLV to drive revenue and profitability. Author Jeff Rendel provides real-world examples of credit union successes and shares the tools each used to build their MLV.

The paper is available online in the white paper section of www.cunacouncils.org – select the “OpSS” tab.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

Natalie Sherry

From Natalie Sherry:

When I began working for the Credit Union National Association nine months ago as the Membership Manager for CUNA Councils, I was excited to join the largest professional organization supporting credit union executives!

Since 1994, Councils have provided the resources and networking opportunities necessary to help credit unions thrive, and along the way, have experienced continuous growth.  Serving marketing, human resources, finance, lending, technology and operations executives, membership has doubled since 2003.

In 2005, the membership reached 3,000 and in 2007, it reached 4,000. And now in 2011, we’ve reached yet another membership milestone:  the CUNA Councils have now reached (and exceeded) 5,000 members!  (I have to admit, it’s a pretty nice feeling to start a new job in a year when the organization is anticipating reaching a historic milestone!)

As the Membership Manager, I’m well-acquainted with the benefits of joining the Councils (discounts on education & training, endless networking opportunities, white paper research… the list goes on), but I wanted to hear straight from the source what our members have to say!  So we asked, “What is it about the CUNA Councils that is helping members now more than ever? “

Here are just a few stories we’ve heard:

The greatest thing about being a member of the Council is to network with our peers.  I was able to get all the information needed to create a new position for a director of lending, including qualifications.  It is the greatest thing to have this vast information at our fingertips.  Everyone on the Council is willing to share and assist.  We do have some amazing people in the credit union world!
— Carol R., Lending Council

I’ve been a member of the CUNA Marketing & Business Development Council since I began working at my credit union in 2008. When I started, I was a college-student and didn’t know what a credit union was. Being part of the Council made it easier for me to understand what it meant for credit unions to be cooperative. Today, more than ever before, the Council is a source for peer-reviews of vendors and programs, feedback and idea generation. I can’t count how many times a week I read an email that makes me think — why aren’t we doing that?! It allows me to bounce ideas off a network of marketing professionals from across the country and stay up-to-date with new technology and practices. It also allows me to ask questions to more experienced credit union marketers when it comes to strategy and compliance or regulations. At the end of the day, I value the Council more than ever before because it allows me, a one-person marketing department in a small community credit union, to feel like I have the support of a marketing staff of hundreds.
— Francesca I., Marketing & Business Development Council

The CUNA Lending Council has helped me develop and improve a lot of my credit union’s policies and procedures. I have received information on foreclosures and mortgage processes to streamline many of our processes. CUNA Lending Council gives me instant access to so many professional and intelligent people that have improved my credit union and hopefully the credit union movement as a whole. I will continue to contribute and learn from the Council.

Thank you CUNA Councils!!!!
— Kimo R., Lending Council

Among all of the “More Than Ever” stories we’ve already received, there is one undeniable theme:  Council membership connects credit unions to each other in a way few other industries can claim.  We collaborate, we grow and we support each other.

To acknowledge the milestone of reaching 5,000 members, we did a little celebrating here at CUNA with cake (ofcourse!) and we’re excited to announce that we have some more surprises up our sleeves so the credit unions we support can celebrate too.

We love to hear what members enjoy most about their membership and are continuing to grow larger every day!  Current members who share their “More than Ever” stories or new members who join the Councils by August 31^st will be entered for a chance to win one of five prize drawings!  Plus, the icing on the cake — we are offering a special ½ year rate and a chance to win a $5000 CUNA scholarship! Join in the celebration!

Please help yourself to a slice of virtual cake—-it’s calorie free!

Thanks for celebrating with us, 5000 members strong — we couldn’t have done it without YOU!

Natalie Sherry is the Membership Manager for CUNA Councils

Treated Like Royalty...

Recently I had the pleasure of attending the Technology Council Conference.  The Technology Council and the OpSS Council combined forces this year to present two amazing events in one amazing venue: Las Vegas. This format allowed participants to listen to keynote speakers in a communal space, while giving them the option to choose  breakout sessions from either the Technology or OpSS tracks.   It was my first CUNA Council event in over ten years and I was not disappointed.

During a break between sessions, I had the opportunity to visit Zappos, the mecca of customer satisfaction. If you have read any of my previous posts, you will know I have a soft spot in my heart for Zappos. I had signed up for the free tour  as soon as I learned I would be going to Vegas for the conference. A little before 10:00am on Wednesday morning I got a call from Andrea, “can-do coordinator” at Zappos and my chauffeur for the morning. She was calling to let me know she was a little early for pick-up (sweet), but when I was ready, she would be waiting for me out front. I was impressed by the fact that Zappos sends its employees (rather than a car service) to pick up their tour-goers.  I knew I was in for quite ”an experience.”

On our short ride out to Zappos, Andrea told me about her experience working for Zappos and how lucky she was to work there. Not only had she done the customary four week call center training program that every employee is required to do, she had passed up the $2000 they offered her at the end of that period, to quit. By month’s end, she was already enamored with the Zappos culture, and no amount of money would entice her to resign. In the three years she had been employed since, her passion for her employer had grown even stronger. I could tell by the way she looked me in the eye  (through the rear-view mirror) when she spoke, by the way she smiled, and the pride in her voice when she told me about her various tasks.

We arrived at Zappos HQ and Andrea escorted me to the lobby. There I ran into some of the OpSS Council Executives who were just commencing their tour. They were blown away by what they had seen. “It was so amazing!” Said one. ”It was worth the entire trip!” Said another. The conference hadn’t even started yet so they were in for quite a week!

After bidding them farewell,  I checked in with the receptionist, a tough looking guy who surprised me by calling everyone, including me, ”friend”. I spent the next twenty minutes drinking from my complimentary water bottle (thanks Zappos), quietly observing my surroundings. It was nearing lunchtime by then and people were milling in and out of the front door. Every single one of them either nodded at me or said hello to me, and not in a fake, “I should be nice to that lady because she is on the tour” kind of way. Every single one of them was genuine and… happy. And they were sharing that happiness, with me.

The tour itself was, as promised, absolutely fabulous. I don’t have time to go into details but I can tell you that the next time you go to Vegas, you MUST do the tour. Even if you don’t love shoes (like I do), you will get something out of the experience.  Like Zappos, the credit union movement is “powered by service.” Every day, we are “serving our members” and every day we have countless opportunities to WOW them. Are we taking those opportunities?

At Zappos there are no limits on call times and no “cue cards” to follow. Each employee is trained to treat each customer as an individual. They listen to the caller. They find out what the caller needs. And then they do whatever it takes to make that caller HAPPY. This has led to some interesting, and memorable experiences. It has also led to more than 8000 customer testimonials!! Zappos lets their customers due most of their marketing for them. Happy customers (or happy members in our case) do tell their friends about their experiences.

The following day, as I sat listening to keynoter Jackie Freiberg talk about 7 Choices for Blowing the Doors off Business-as-Usual, I thought “Jackie is talking about what Tony Hseih is doing with his employees at Zappos.” True leaders, according to Jackie,  ”Inspire, model and teach other team members to: Do Whatever it Takes!”

Is your credit union doing whatever it takes to grow membership? Are you asking existing members to tell their friends (and family) how awesome your credit union is? Are you encouraging them to open “starter” accounts for their kids (the future of the credit union movement)? Are you delivering happiness to your members and if so, are you asking them for testimonials? If you do get their testimonials, are you sharing them with the world?

The time is right to “Do Whatever it Takes” to spread the credit union difference, and to deliver more happiness to the world, and our members.

A few weeks ago I had the pleasure of attending CUNA’s Marketing Management School in Orlando, Florida. Although my tenure (ten years!) at CUNA has provided me with opportunities to travel and work at various onsite events this was my first experience working with credit union marketers. It was an absolute delight!

Meghann Dawson, my colleague and fellow CUNAverse blogger, spent the last year working with Anne Legg (CUNA Marketing & Business Development Council Chair), and Randy Schultz (of Weber Marketing) to revamp the existing school.

The result was a stellar 3D program, with “dimensions” for marketers of every level.  Dimension 1 was led by Randy Schultz; Dimension 2 was led by Mark Arnold, CCUE (of Neighborhood Credit Union) and Dimension 3 was led by Jeff Rendel (of Rising Above Enterprises). This trio was responsible for leading and facilitating the educational offerings. Throughout the week Meghann and I heard from students in each dimension that their facilitator was “the best of the three.” Clearly, Randy, Mark and Jeff brought their “A game” to Orlando, as did all of the other speakers.

I personally learned A LOT at Marketing Management School… I could write several posts on the experience…but, I’ve boiled it down to this:

If you want to be a strong leader, you need to embrace Web 2.0/Social Media. What do I mean by this? You need to start educating yourself on Web 2.0. This means reading blogs (this one is a great start!), subscribing to RSS feeds, investigating wikis, and watching videos on sharing sites like YouTube, to name a few.  Social Media  is not a passing fad. Strong leaders recognize the true power of the Internet and the importance of being technologically savvy.  Embracing Web 2.0 might mean asking for help. Enlist the help of your part-time student teller. Hire a marketing intern from your local high school or college.  If nothing else, check out other credit unions who are embracing Web 2.0 well. Do whatever it takes to get educated because education truly IS power.

Last week my 11 year old niece taught my mom more about her iPhone in 3 days, than my mom had learned in 3 months. Why? Because kids play! They aren’t afraid to push buttons until they figure things out.  Become a kid again. Play! Have fun! Open yourself up to learning. It’s the only way to survive in today’s fast-paced, ever-connected world.

If your credit union is not involved in social media efforts, it’s time to get on board. In each classroom, this message was resounding. Web 1.0 was about obtaining information, Web 2.0 is about people. More importantly, people connecting with other people. Sounds familiar doesn’t it?

43% of the online community is now using social networking sites such as Facebook, MySpace, LinkedIn and Twitter. (If you don’t know what the heck I’m talking about, this piece is a good starting point). If you want your credit union to thrive, you must have an online presence.

As Senior Vice President of Marketing for Neighborhood Credit Union, Mark Arnold shared his top  Five Reasons for Using Social Media to Reach Members:

1. To drive sales.
2. To improve member service.
3. To build your credit union’s brand.
4. To create name awareness.
5. To potentially save money.

As Mark pointed out so succinctly, social networking is about collaborating, interacting and transparency. Social networking is about honesty, authenticity, conversations and dialogue. Isn’t that what credit unions are all about too?

I returned from Marketing Management School refreshed, rejuvenated and reinspired by all of the wonderful things that are going on in Credit Union Land. I thank all of you who joined us on the journey!

“The beautiful thing about learning is nobody can take it away from you.” —B. B. King