B.C. CU Turns Around 'Slack Growth' With MRM App
Credit unions struggling to profit from member relationship management
Fueled by agile use of Value.Net, an MRM solution developed in-house, the CU bounced back in 2001 "after years
NSCU's sudden spurt earned it the national Award of Excellence in the "Customer Care" category for service
MRM software creates a single profile that seeks to accurately record members' needs and preferences for financial
NSCU's bullet-fast growth might leave many North American CUs scratching their heads. Service-oriented CUs
Realizing the sales culture means revamping the entire organization, said Catliff. "The MRM model is different than
"A necessary precondition to making the most of the technology is that the staff has to feel proud and confident
Developing staff expertise across the 11-branch CU is a collaborative effort, starting with some "power users," he
Susan Metcalf, MRM program manager, agreed. "The staff is really telling each other about the system. There's a
Everyone's also literally looking at Value.Net itself. The system is a "desktop portal inextricably linked to MRM,"
Staff now login to Value.Net on their desktops. "What staff members see are links to resources to do their jobs. They
Staff cooperation wasn't always guaranteed- the sales-orientation was a hard pill to swallow for some at NSCU.
Catliff's stance? "I don't really see the member-focus and the sales-focus as being that different. Really, what MRM
Or as Metcalf put it, "MRM is very intuitive to excellent member service."
Sales or service, technology is just part of the picture, according to Catliff. "Software is part of a whole strategy of
Lending is one department that has seen a piece of the action, increasing loan retention to 92% from 76% in the past
The heady pace has paid off. "We're using our MRM to sell more products at great prices and making it up on
But a CU shouldn't always look to be the low-price leader, he said. "You can't beat the market all the time. With
NSCU's next step is to incorporate MRM in its website, said Ron Cann, senior manager, eCommerce and Direct
The CU's website has also experienced strong post-MRM growth, said Cann. Bill payment use has increased by 34%
NSCU's customized CRM software, developed with North Vancouver-based Pivotal Corporation, is also being