BROOKLYN CENTER, Minn. -
That’s why City-County FCU SVP-lending John Flatley can’t wait to tell other credit union professionals about how his credit union managed to do just that.
Flatley will be speaking about this at the Credit Union Journal’s Grow Show on April 28th, in Orlando, Fla. His topic is “If Members Love Us, Where is the Love?”
City-County FCU’s membership drive helped the credit union to have a 10% membership growth (6,000 new members) in 90 days.
“We developed a coupon that got the members involved,” Flatley said. “They got $50 if they referred a friend or relative that signed up for membership. The new person got $25 and $10 for each product they add. Within 90 days we basically made our goal.”
Flatley said City-County FCU also offered an incentive to the staff. “It’s really important for them to buy into it,” he said, of motivating new membership.
In all, Flatley said it probably cost about $100 per member to get the new 6,000 members. “The theory is that half will be good,” he said. “So then it’s $200 each for 3,000 members.”
Flatley said it was no problem convincing the board of the campaign. “The board said ‘Let’s do it.’ Actually how it all started is that the board had a strategic planning session, and the No. 1 thing was to grow membership,” Flatley said. “They then turned to the staff for ideas. With the incentives, the staff was motivated, and members were motivated.”
In Flatley’s current position, he is directly involved in creating and monitoring all policies and procedures for the lending department, including: underwriting tools, sales, motivational training and marketing updates. He also audits all completed loans. Flatley is in charge of the collection department working through issues such as bankruptcies, conciliation court and foreclosures. Prior to joining City-County FCU in 1989, Flatley was employed by Firstar Bank, and before that, Golden Valley State Bank. He is also a member of the CUNA Lending Council. Flatley has taught classes and seminars since 1985. He is also the lending instructor for CFT and the Minnesota Credit Union Network.
At present, City-County FCU has about 65,500 members and $488 million in assets.
