2002 Best Practices Awards

Business Development | Name Change/Identity/Branding | Sales Culture/Incentives

Business Development

Margaret Delmonico Administrator, Business Development and PR Pennsylvania State Employees Credit Union Harrisburg, PA

In 1999, Pennsylvania State Employees Credit Union in Harrisburg began placing e-commerce centers on each of the 14 campuses it serves. Four of these centers were opened in 2001.

Each center includes personal computers, automated teller machines, and a kiosk. The credit union hires and trains student interns to run the center, recruit student accounts, and cross-sell products and services.

Over the course of the year, Pennsylvania State Employees' marketing department, headed by Margaret Delmonico (who also administers the credit union's business development and public relations departments), helped improve member penetration through summer orientations, mailings, year-round marketing retail support, sponsorships, and public relations.

In turn, the business development department designed activities to better reach parents, attract potential members and nonmembers to the e-commerce centers, and earn the trust and respect of the university community.

A total of 3,634 new members had joined by the end of 2001 and nearly $2.8 million in loans were captured with a high percentage of the new members signing up for checking accounts, check cards, and online banking.

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Name Change/Identity/Branding

Teresa Freeborn SVP, Marketing and Communications Kinecta Federal Credit Union Manhattan Beach, CA

When Hughes Aircraft Employees Federal Credit Union in Manhattan Beach, Calif. decided to change its name after 60 years, Teresa Freeborn, senior vice president of marketing and communications, and her entire credit union had a real challenge on their hands. The challenge was to update the credit union's name to better reflect its 100-plus select employee groups, lose the aircraft industry association and the Hughes name, and retain loyalty from long-time members.

To meet the challenge, the credit union, its board of directors, and Landor Associates (a logo and branding firm) originated 1,200 made-up names (not related to actual dictionary words). The list of names was then narrowed to 12 after getting feedback from volunteers, employees, and more than 500 members via telephone interviews.

The name Kinecta combines two different associations. The first is strength, forward motion, and kinetic energy. The second is "kin" or family.

The new logo has four circular multi-colored symbols, standing for energy, motion, and the diversity of the credit union's employees and membership. Following a multi-stage launch, the credit union exceeded its maximum membership, deposit, and loan growth goals.

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Sales Culture/Incentives

Jody Walls VP, Communications and Business Development Bell-Tel Credit Union Orlando, FL

Jody Walls, communications and development vice president for Bell-Tel Credit Union in Orlando, and her staff implemented an incentive program to help employees recruit new members, retain current members, and cross-sell products while providing a high level of service.

On a departmental level, employees earned money each time they met a quarterly goal in one of five areas: member increase, member retention, product penetration, share draft increase, and member service.

On an individual level, employees nominated one another for "gold records" that were used in prize drawings and as entries toward the coveted monthly "blue suede shoe" award. To improve service, member service representatives were encouraged to fill out closing-account questionnaires. Each questionnaire counted as one entry for the monthly "hound dog" award. The winners of these awards were given additional recognition in the internal newsletter, which also included a product of the month quiz.

As a result of these efforts, the credit union saw an average increase in membership of 52.5% over the 2000 level and a 20% reduction in the loss of members. The credit union also exceeded its goals in share drafts, product penetration, and service.

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Judges for the 2002 Best Practice Awards were:

• Mike Chapman, King County Credit Union
• Wendy Townsend, Washington Credit Union
• Brad Loebbaka, Desert Schools Federal Credit Union
• Lesley Carrell, Electra Central Credit Unio