The NAFCU Journal May - June 2017 - 17

PROFESSIONAL AND OPERATIONAL GROWTH IDEAS TO
HELP STRENGTHEN YOUR CREDIT UNION
By Carolyn Kimmel

T

urning 50 elicits a range of reactions, but when it's happening
for a business or organization,
reaching the half-century mark
is usually an indicator of positive
growth - and cause for celebration.
As NAFCU marks this milestone, it's a
great time to think about ways to grow
your credit union, as well as become a
better leader. Toward that end, we offer
50 seeds for credit union, professional
and personal growth that may help
nourish your vision, drive and resilience for the next chapter.
1. Partner with a specialty finance
company to grow and diversify
your loan portfolio. Move past auto
loans, real estate and home equity loans
into health care, manufactured housing
lending, marine financing and student
loans, says Keith Stayer, senior vice
president at Triad Financial Services Inc.
An added bonus - you'll expand your
membership, too!
2. Show your worth. As NAFCU
President and CEO Dan Berger points
out, the credit union federal income tax
exemption has been in the crosshairs of
the banking industry since its inception.
But an independent study commissioned by NAFCU shows the exemption's
economic benefit to U.S. consumers
comes in at $16 billion per year, or $159
billion over the 10-year period studied.
That's great news that Berger urges credit
unions to share with their communities.
3. Create an omnichannel position
for your credit union. Use relevant
messaging to engage the member in all

THE NAFCU JOURNAL  MAY-JUNE 2017

that you offer - branch, ATM, web and
mobile, says Bryan Clagett, chief marketing officer at Geezeo. Leverage your
critical mass, infrastructure and human
talent to create the simplified banking
experience that people crave.
4. Grow your mortgage lending
portfolio. Creatively use mortgage insurance products such as split premium to
help qualify more borrowers, says Geriel
Thornburg May, director of customer
experience at Genworth Financial.
5. Create a tracking program to
measure your return on investment. An ROI tracking process will
help your marketing department develop
strategies that are well aligned with your
credit union's goals. Since developing
their ROI process, Financial Center First
Credit Union's ROI is more than double
its annual advertising expenses, says
J. Kevin Ryan, president and CEO of
Financial Center in Indianapolis.

Poulos, the call center takes more than
60,000 calls a month.
8. Provide your members a secure
mailbox with an extra layer of
encryption. "This feature allows our
members to safely and securely email
account-related questions through the
home banking platform," says John A.
Savelli, president and CEO of Guthrie
Federal Credit Union in Sayre, Pa. This
saves on waiting time at the teller line
and cuts down on phone calls.
9. Never underestimate the value
of the member relationship. Be
the most accessible, consultative credit
union in town. Growth is all about
loyalty and exemplary service, not sales,
says Lesley DeCator, leader-senior card
marketing program manager at Vantiv.
Offer sincere guidance, invest in appropriate technology, and offer pay-for-performance incentives to build utilization.

6. Portfolio a mortgage that your
credit union originates. This will grow
your credit union's profitability while
managing any accompanying risk - and
it has the added benefit of maintaining
relationships with your members, says
Scott Brennan, director of sales, Federal
Home Loan Bank of Atlanta.

10. Establish a culture of wellness
for your employees. Physical and
financial wellness, career development
and a healthy work-life balance will
make for happier, long-term employees.
Offer reimbursements for everything
from gym memberships to financial
planning expenses, and reward goals that
are met.

7. Around-the-clock call centers can
make everyone's lives easier. For
the 125,000 members of Michigan First
Credit Union, access to a "365 Live" call
center allows them to get notary service
and plastic card replacement any time of
day or night. According to CEO Michael

11. Transform your website into an
e-commerce platform to generate
fee income. With massive numbers of
members using your website every day
for online banking, credit union leaders
must start converting their web portals
from digital brochureware-printed
17



Table of Contents for the Digital Edition of The NAFCU Journal May - June 2017

Our First 50 Years
Events Calendar
From the Chair
Inside NAFCU
The Digital Download
50 Ways to Grow Your Credit Union Professional and operational
Fields of Opportunity
2017 Annual Conference Exhibitor Directory
Getting to Know …
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal May - June 2017 - Cover1
The NAFCU Journal May - June 2017 - Cover2
The NAFCU Journal May - June 2017 - 1
The NAFCU Journal May - June 2017 - Our First 50 Years
The NAFCU Journal May - June 2017 - Events Calendar
The NAFCU Journal May - June 2017 - From the Chair
The NAFCU Journal May - June 2017 - 5
The NAFCU Journal May - June 2017 - Inside NAFCU
The NAFCU Journal May - June 2017 - 7
The NAFCU Journal May - June 2017 - 8
The NAFCU Journal May - June 2017 - 9
The NAFCU Journal May - June 2017 - 10
The NAFCU Journal May - June 2017 - 11
The NAFCU Journal May - June 2017 - 12
The NAFCU Journal May - June 2017 - 13
The NAFCU Journal May - June 2017 - The Digital Download
The NAFCU Journal May - June 2017 - 15
The NAFCU Journal May - June 2017 - 50 Ways to Grow Your Credit Union Professional and operational
The NAFCU Journal May - June 2017 - 17
The NAFCU Journal May - June 2017 - 18
The NAFCU Journal May - June 2017 - 19
The NAFCU Journal May - June 2017 - 20
The NAFCU Journal May - June 2017 - 21
The NAFCU Journal May - June 2017 - Fields of Opportunity
The NAFCU Journal May - June 2017 - 23
The NAFCU Journal May - June 2017 - 24
The NAFCU Journal May - June 2017 - 25
The NAFCU Journal May - June 2017 - 26
The NAFCU Journal May - June 2017 - 27
The NAFCU Journal May - June 2017 - 28
The NAFCU Journal May - June 2017 - 2017 Annual Conference Exhibitor Directory
The NAFCU Journal May - June 2017 - 30
The NAFCU Journal May - June 2017 - 31
The NAFCU Journal May - June 2017 - 32
The NAFCU Journal May - June 2017 - 33
The NAFCU Journal May - June 2017 - 34
The NAFCU Journal May - June 2017 - 35
The NAFCU Journal May - June 2017 - 36
The NAFCU Journal May - June 2017 - 37
The NAFCU Journal May - June 2017 - 38
The NAFCU Journal May - June 2017 - 39
The NAFCU Journal May - June 2017 - 40
The NAFCU Journal May - June 2017 - 41
The NAFCU Journal May - June 2017 - 42
The NAFCU Journal May - June 2017 - 43
The NAFCU Journal May - June 2017 - Getting to Know …
The NAFCU Journal May - June 2017 - 45
The NAFCU Journal May - June 2017 - Management Insight
The NAFCU Journal May - June 2017 - 47
The NAFCU Journal May - June 2017 - Compliance Central
The NAFCU Journal May - June 2017 - 49
The NAFCU Journal May - June 2017 - Inside NAFCU Services
The NAFCU Journal May - June 2017 - 51
The NAFCU Journal May - June 2017 - From the President’s Desk
The NAFCU Journal May - June 2017 - Cover3
The NAFCU Journal May - June 2017 - Cover4
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