JACKSONVILLE, Ark. -
"Our goal is to double the size of the credit union in five years," VP of Retail Operations Jason Thompson told the Credit Union Journal.
But, Arkansas FCU staff knew it couldn't grow while still having difficulty scheduling projects and getting them completed. Last year AFCU launched Connections Online that allows staff to see and track all ongoing projects and how they fit in with the overall goal of "Improving Each Members' Financial Life," the credit union's new mantra.
The Connections Online website states that it "creates one virtual touch point for every employee in the organization-every leader and employee can 'connect' with the company's strategy, projects, and work for which they are accountable." Thompson said the goal of doubling the credit union's size in five years is a reachable goal now that staff and employees are all "on the same sheet of music." Anyone seeking answers on any project from new loan drives to the status on a new computer system can check the progress, milestones and project due dates.
"Everyone in the organization has access to the front page," Thompson said. "When we're in a board meeting and a question comes up, we're all on the same page."
Thompson credited AFCU CEO Larry Biernacki with creating the five-year vision and setting the framework for the CU staff to accomplish one goal at a time. Thompson said as a result of starting Connections Online, Arkansas FCU has remodeled and upgraded the CU call center, launched a tiered savings program for members, tested is disaster recovery plans, implemented new checking plans for military members, opened a branch at Little Rock Air Force Base, bought land for another future branch and created new certificate programs, including one for kids. Seemingly mundane projects such as the installation of new wallboard in the new branch is listed on Connections Online for all to see, he said.
Thompson also said the internal efficiencies provided by the online planning tool caused a 14.4% share growth; 20.7% asset growth; 24.8% increase in gross revenue and an 8% increase in membership. Thompson said AFCU was most pleased with the fact that fully 80% of its recent growth came from the existing membership, reflecting the benefits of better planning and project completion.
"We were pleasantly surprised," Thompson said.
Thompson said the CU staff is happier, better trained and more aware of operations as a result. Arkansas FCU was at $410 million in assets in January 2006 and Thompson said he expects the credit union to be worth roughly $545 million at the close of 2007. The long-term goal is still the same: by Dec. 31, 2010, Arkansas Federal Credit Union is looking to be worth $820 million, one goal at a time.
FOR MORE INFORMATION
www.afcu.org
