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Grow your membership through SEG development. Learn best practices, use Commercial products as a new door into SEGs, onboard and speak the CEO\'s language with ROI.Want more? Call Eric Gagliano at 937-426-9848.


  • 1. SEG Development

2. Last Year Creating a BD Plan Positioning & Goals Market & Competitive Overview/Trends Anticipated Growth Areas Acquisition Basic Sales Techniques Research Tools Penetration SEG Agreement Basic On-Boarding Welcome Kits Basic Tactics Budgeting 3. Todays Topics 4. Resources Best Practices from CU Professionals What do banks do Brain Storming 5. SEG Acquisition 6. 2008Sean McDonald Director, Business Development & Marketing Liberty Savings Federal Credit UnionJersey City, NJSEG Acquisition Process/Tips 7. Challenges1. Getting past the gatekeeper for an appointmentwith decision maker2. Explain why the CU matters3. Reaching Penetration Goals & Member Acquisition 8. We shouldnt have to work as hard as we have.Were finding that it seems to be becoming harder for banks to get into companies. Business ownersare weary of dealing with them. Wachovia has a Wachovia@Work program, butin New Jersey, community banks do not offer the types of programs to compete with us. Sean McDonald Director, Business Development & Marketing Liberty Savings Federal Credit Union Jersey City, NJ 9. 10. Before the SEG Signs Research companys clients (website, Google, press releases, etc). If company has common relationships: Ask common SEGs for testimonial directly to decision maker Ask common partners for personal introduction Research if decision maker/owner is in organizations or professional groups Use and leverage all professional contacts Return referrals to those who give themNetwork! Cold calling stinks no one likes it! 11. There Is No Magic Bullet 12. After they get to know me, its easier to approachthem about the CU.BD Professionals need to find ways to effectively build relationships. Get them to know YOU. I try tohelp a SEG get new business before I even talk about the Credit Union.Sean McDonald Director, Business Development & Marketing Liberty Savings Federal Credit UnionJersey City, NJ 13. After the SEG Signs Arrange on-site to speak to all staff (staff meeting, training session, financial literacy seminar) Maintain Excellent Credit Managing Money in Difficult Times Ask for permission to include Stuffer in the next payroll to introduce CU If SEG has intranet, ask for CU to be included as a company benefit for employee and their families Target agreement to let CU in periodically throughout year Provide Welcome Kit/application/info to be included in new-hire packets Get one or more ambassadors to serve as liaison Ambassador must be trained and enthusiastic about CU 14. On-sites are fine but they need to be advertised AND endorsed by the decision maker. Sitting in acafeteria or break room for hours on end is a waste of time unless people know that youre there and what youre all about BEFOREHAND. Sean McDonald Director, Business Development & Marketing Liberty Savings Federal Credit Union Jersey City, NJ 15. Lessons Learned When dealing with a SEG owner/decision maker, you need to realize that they, themselves, may have no need for a CU. Sell it by focusing on how offering CU membership will ultimately benefit their company (more productive employees, owner will look like a hero) Try not to agree to on-sites where they say, You can sit in our break room for a few hours and see what happens. Your time is valuable and what you offer is important for members. Your visit should be treated with respect. Advertise visit and, if possible distribute information before hand. Your ambassador is key They need to be a referral source. Theres nothing wrong with having more than 1 ambassador. Heck, have 1 for each department! The point is, you need to have a credit union CHAMPION in every SEG. 16. Lessons Learned Youll lose contact with your SEGS overtime if new employees are not communicated to. Getting in front of new hires, either in person or through promotional material is important. Getting SEGs signed is the easy part. Getting employees to join is hard. 17. Results Weve always had better success making anin-person pitch rather than a direct mail piece orcold call. Using the Networking methodology, wehave signed on almost 150 new SEGs. 18. SEG Penetration 19. 2009Nancy HutchinsonSVP Marketing/Business DevelopmentMinnesota Power Employees Credit UnionDuluth, MNSEG Recruitment & Retention 20. SEG Recruitment & Retention Plan3-Step Process1. Build relationship with company2. Recruit employee members3. Reach out to the wider community 21. Company Relationship Implement a written CU/SEG agreement Credit Union Exclusivity Accountability (If we do , you must)This agreement is made this 20th day of January, by and between ________ and Minnesota Power Employees Credit Union and shall commence for theperiod of 36 months, renewing in consecutive terms thereafter. If __________ or MPECU wish to terminate this lease they must notify the other partyno less than 60 days prior to renewal.MPECU will operate an automated NCR5670 (ATM) on the business establishment of _________, as it is now located at, _____________, Bldg #2,Duluth, MN 55811.This agreement shall be for the term commencing January 25, 2006, and continuing thereafter for a period until terminated by mutual agreement of theparties, or by either party, pursuant to other provisions of this contract.MPECU shall use the Premises for the sole purpose of constructing, maintaining, and operating (including servicing) an ATM. MPECU shall install the ATMand related communications equipment. Any damage or repair cost to the ATM and related equipment will be the responsibility of MPECU unless causedby negligence of ___________.___________ shall provide space for the ATM and related equipment. ________ shall be responsible for any modication to the Premises to permitinstallation of the ATM. Subsequent relocation of the ATM and related equipment on the Premises requested by __________ shall be solely at CirrusDesigns expense. ___________ shall provide MPECU with thirty (30) days notice of such ATM relocation. __________, at ___________ expense, shallprovide for electricity, phone line, and any other utility serving the MPECU ATM. __________ shall maintain the Premises in good order and repair andkeep the same free from rubbish and dirt. ___________ agrees to display standard MPECU ATM signage as prescribed by MPECU at the ATM location.MPECU will comply with all applicable laws, ordinances, statutes, and regulations of the United States and the State of Minnesota, related to or affecting useof the Premises and the ATMIf ___________ fails to perform any obligation within thirty (30) days after written notice from MPECU, __________ shall be deemed in defaulthereunder. In the event of default by ___________, MPECU may terminate this agreement upon giving fteen (15) days written notice to ___________.For purposes of such notice, or notice of any other kind related to this agreement, the parties agree service of such notice shall be deemed effective bysending prepaid certied mail and addressed as indicated below or to such other place as may be designed in writing from time to time. 22. Company Relationship Position the CU as an employer profit and benefit enhancer 401K contributions Flex Spending Focus on key employer decision maker Keep a Little Black Book (Birthdays, Anniversaries, Family info., etc.) We dont just focus on one person. People come and go and you dont wantanyone in the organization to think thatyou treat anyone else special. Ill often know 4-5 people in a SEG very well. 23. Company Relationship Explain the greater business services opportunity SEG Related Seminars Retail Credit Card Fraud Identification Relationship Pricing 24. Company Relationship Demonstrate that employees want financial education Build effective employer support for the CU Partnerships Sponsorships Picnics Target, specialize and focus on selected SEGs # of Employees Do they pay on time? General company background Dont be afraid to turn down a SEG. 25. Recruit Members Incent member enrolment, not contracts produced MPECU targets 4-6 products per new member Dedicate significant resources to the SEG program Management Branch Managers Build employee awareness to achieve success Meet and Greets Flyers/Stuffers Offer a cant miss product to build membership Lifestyle Marketing Use credit union ambassadors effectively 26. Lifestage Marketing 27. Community Outreach Pursue a special SEG strategy if yours is a community credit union Join organizations: Chamber, Rotary, etc. Sponsor activities, or be on boards that buildcommunity and awareness 28. A SEG must be carefully managed and promoted.Credit unions cannot take for granted that oncerecruited, a SEG employer will support the needs of thecredit union, and that employees will automaticallyjoin and use its services.You have to get involved at every level! Nancy Hutchinson SVP Marketing/Business Development Minnesota Power Employees Credit Union 29. ResultsAfter 12 years of this process, MPECU has enjoyed: Membership has grown by 41% Assets size has more than doubled 30. On Boarding 31. Why is On Boarding Important? According to Frederick Reichheld, author of The Loyalty Effect A 5% increase in retention can lead to a 100% increasein profitability. In the banking industry, banks spend, on average, $500 to acquire a new customer and less than $52 to retain. Which would you rather see the bank invest? 32. Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.- Peter Drucker 33. Why is On Boarding Important?Most cross-sell opportunities come in the first few months afterchecking accounts are opened.In fact 73% of all cross sales occur in the first three months of abanking relationship. Gallup Management Journal, November 2005 34. Youll never have a product or price advantage again. They can be easily duplicated, but a strong customer service culture


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