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City County Credit Union Positioned For The Future

City County Credit Union Positioned For The Future. CUNA Operations, Sales & Service Council Best Practice Awards 2006 Operational Efficiency and Productivity. Doing Business In South Florida. Over 1,000 new residents daily From a variety of backgrounds Buildable land is scarce

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City County Credit Union Positioned For The Future

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  1. City County Credit Union Positioned For The Future CUNA Operations, Sales & Service Council Best Practice Awards 2006 Operational Efficiency and Productivity

  2. Doing Business In South Florida • Over 1,000 new residents daily • From a variety of backgrounds • Buildable land is scarce • Rising home prices

  3. Largely blue collar Credit challenged Financial guidance High Operating Expense Ratio CCCU Membership

  4. Operating Expense Ratio, Jan-04

  5. The Problem • Differentiation in a saturated marketplace • Lower our operating expenses • Position ourselves for future growth

  6. The Solution • Phone-based delivery channel • Serve more members with fewer employees • Faster, more efficient member experience • Better financial results

  7. Successful Phone-Based CUs • Clark County CU • Las Vegas, NV • Pennsylvania State Employees CU • Harrisburg, PA

  8. Laying the Foundation For Change • Phone-enable every member transaction • New organizational chart • Head count decreased from 115 to 103 FTEs

  9. Preparing For The Transition • Training • Challenge: to maintain members’ confidence • New roles • Internal & external training

  10. The Transition • 8-week transition • Extra staff on-hand • Next time… • call from home or work!

  11. Opening A New Account • Data entry completed via phone • Account “locked down” until member visits branch, presents ID & makes opening deposit • Checks & debit card are ordered once deposit is made

  12. Applying For A Loan • Members apply via phone or online • Immediate decision • Sales teams • 2 Sales Advisors & 1 Loan Processor • Processor funds loan

  13. Car Loans • AutoDraft • Preapproval • Valid for 90 days • MICR-encoded • Loan is booked when draft is presented

  14. Achieving Results: Asset Growth

  15. Achieving Results: Gross Operating Expense Ratio

  16. Achieving Results: Members/FTE

  17. Achieving Results: ROA

  18. Achieving Results:Loan Product Sales

  19. Maintaining Momentum • Teller Referral Program • Call Monitoring • Incentives • Ongoing Training

  20. Thank You!

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