BATTLE CREEK, Mich.-Kellogg Community FCU plans to work even harder to maintain its image of a financial partner that delivers fast decisions and helps members make the right choices with their money.
That's what the $315-million credit union believes it needs to do to discourage members from taking their business back to banks.
CEO Tracy Miller said the credit union will play up that message in its marketing - and make sure it has the tools to deliver. Kellogg Community has also recently added investment services and mobile banking.
"We want to be certain our members see us as a consumer advocate, which certainly separates us from the banks," Miller said. Last year the 27,000-member KCFCU enjoyed 10% net member growth.
The investment services should play a big role in retention, especially when some of the CDs opened last year mature, Miller added. KCFCU has hired a full-time investment counselor who travels between its eight branches. Miller said his services will be part of the credit union's cross-selling efforts.
What may also keep members in the fold, Miller emphasized, is Kellog Community FCU's ability to make fast decisions on loans, especially business loans. "We are finding that our team of local decision-makers are making a big impact in this economy. Small businesses want to be able to speak with those decision makers, talk about their business, their struggles, and their strategic plans. They can't get that at banks."
