Credit union saves members $1.2 million

first_imgby. Michael NeillMissional leadership is a means for an organization to keep focus on its purpose relative to those it serves. It’s more than a management theory—successful implementation can pay off in measurable business outcomes.The formula is simple:missional leadership + employee training = engagement, which leads to member savingsHere are the steps taken by $172 million Cardinal Community Credit Union, Mentor, Ohio, to save members money while increasing its own profitability through lending.Step 1: Define and communicate the mission.According to Cardinal Community CU’s CEO, CUES member Christine Blake, CPA, the institution’s mission is to “brighten our members’ financial future.” Blake, the rest of the CU’s leaders and I challenged ourselves to figure out how to make these words tangible and get employees engaged in living the mission in their member interactions.We identified refinancing members’ higher interest rate loans as having the greatest potential to save the members money.Step 2: Train staff.Cardinal Community CU ensured all communications to employees avoided hints of “another promotion.” “Every employee went through training on how to move from being transaction-oriented to proactively reviewing members’ accounts and making recommendations,” Blake explains. “They also learned how to overcome objections.” Managers were trained on coaching skills so they could effectively support their staff. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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