The Problem:

Mutual First Federal, a 12,000 member credit union, was seeing a stagnation in sales. After some investigation it was found their sales system, built in the 90’s was reactive only. The credit union was losing customers to other institutions with products they offered, but never presented to members. They needed a solution that could help them cross-sell, up-sell, and resell members while attracting new accounts.

Bank teller's hands counting dollar banknotes on the table
CAN 500X500

The Solution:

Contemporary Analysis (CAN) built a system that ranked members based on likelihood of need based on life changes. The system gave the sales team high traction leads for Auto Loans, 2nd Mortgage, and members that were about to churn. The solution allowed all members of the team to access the data for timely opportunities. The loan officers were able to target and pursue prospects who were in the market for a solution.

The Results:

  • Upward trend in sales after 3 months across the board.
  • Reduced churn of members leaving the credit union.
  • Revamping of marketing materials for greater impact with targeted members.
  • Additional models for; Profitability, CD Sales, Christmas Accounts, and Checking .
  • Greater employee engagement with higher levels of success and greater commission payouts.
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