CHARLOTTE, N.C. - Carolina Postal Credit Union here has been placing extra emphasis on training front-lilne staff in how to offer reassurances to members, whether concerned over their own finances or that of the credit union.
For smaller CUs, such as the $62-million CPCU, the task is made that much more difficult by having limited time and financial resources for such training.
"Consequently we have to be more innovative in getting our message out to our members," said VP-Marketing & Business Development. Deb McLean, adding it has been "communicating with our members our strengths and our determination to make loans to them to help them survive this economic storm."
The credit union's members are concerned, but calm, McLean said.
"However some senior members are nervous and looking for reassurances from us-even if they don't ask us directly," she said. "The questions and concerns are still there in their minds."
Carolina Postal's management has reacted by coaching and encouraging staff on how to answer members' questions, "and to look for ways to be calm and reassuring," McLean said. "Our staff has spent a lot of time referring our members to our investment and financial counselor. He has mainly spent his time holding hands and making reassurances."
McLean said that the CEO has also been more pro-active than usual, "reaching out to the staff and making calm and steady reassurances to any concerns they might have expressed."
As for the future of smaller credit unions facing what appears will be an ongoing sluggish economy, McLean is optimistic.
"Actually since so many smaller credit unions are 'over' capitalized, they may be in a stronger position than they realize," advised McLean, whose own credit union has a net worth ratio of 15.72%. "Plus having that closer person-to-person connection to the member is another advantage that larger credit unions may be struggling with currently."
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