Retention

Credit Union Creates Loyalty through Exceptional Experiences

Situation

While undergoing a recent name change, FedChoice decided it was time to consider other changes as well. The credit union wanted to get its new name out there with the highest possible impact, and they knew this could be best achieved through positive word of mouth. So they considered ways to improve the member experience at their branches. They also saw an opportunity to rally their staff behind a common goal for which they all played a critical role.

Solution

FedChoice began exploring available options for improving not only its physical environments, but also the behavioral aspects of its employees. The credit union ultimately decided to implement the Deluxe Welcome Home® Tool Kit across its entire organization, with every employee at every level participating in training.

The Welcome Home Tool Kit provides employees with not only a clear understanding of what is expected of them, but of how fulfilling those expectations will positively benefit members and themselves.

Results

In just six months, FedChoice saw improvements in its recruiting, employee retention and new member enrollment efforts. In addition:

• The credit union recently set an all-time record when 50 members joined in one day
• One member was so impressed by his treatment at the credit union that he pulled $122,000 from another institution and opened a certificate of deposit with FedChoice
• The FedChoice Philadelphia branch has received much acclaim for its new policy of visiting members with physical disabilities, so those members don't have to come into a branch to speak with FedChoice representatives

"Our marketing team hit the ground running with the Welcome Home Tool Kit's environmental elements, and members immediately began commenting about how welcoming it feels at our branches." ---Kevin Roland, FedChoice Federal Credit Union