SEG Inreach: Creating Internal Advocates with. Partners. Josh Allison, CUDE Relationship Development Manager Horizon Credit Union Spokane, WA

Transcription

1 SEG Inreach: Creating Internal Advocates with your SEGs and Community Business Partners Josh Allison, CUDE Relationship Development Manager Horizon Credit Union Spokane, WA

2 Learning Landscape Planning + Doing + Tracking

3

4 Planning

5

6

7 Dig For Why Dig for the Why Many employees ask what is expected of them, but fewer ask why that is expected of them

8 What + Why WHAT: We want to be in the schools WHY: Because we want to lower our average age of membership PROBLEM: Being in schools won t necessarily equal lowering your average age of membership

9 What + Why WHAT: We need more SEGs WHY: Because SEGs equal new members recruited each month PROBLEM: New SEGs don t necessarily equal new members

10 Strategic Plan Align your efforts with your strategic plan If you don t know what the strategic plan is, ask Print it out, post it! Quote it at the beginning of your business plan: In support of the strategic plan initiative Tie your tracking efforts back to it

11 Targeting Based on Strategic Plan Strategy (Why): To be a trusted partner Target: Largest employers Most likely to be consumer in need of our loan products/services

12

13 Doing

14 Question Your products alone will struggle to create advocacy with SEGs and Community Business Partners Why?

15

16

17 Question Do consumers view the financial services industry any different?

18 One word: Commoditization

19 com mod i ty :obsolete: quantity, lot : a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (as brand name) other than price : one that is subject to ready exchange or exploitation within a market <stars as individuals and as commodities of the film industry Film Quarterly> -Merriam-Webster

20 Explains why this isn t enough anymore

21 Partner Engagement Target in alignment with strategic plan Engage using relevant and unique content Maintain and deepen relationships through ongoing interaction

22 Target in alignment with strategic plan

23 Strategic Plan Alignment In support of Horizon s goal of being trusted in the communities we serve: Partner Advocacy We build valuable partner advocates with employers and their employees who become advocates for us to their employees Trust Creation Through ongoing, mutually beneficial partnerships, we build trust by meeting unmet needs. With schools; student financial literacy and teacher and staff support programs. With businesses; workplace financial stress education to employers and financial fitness promotion to employees Awareness Brand Awareness Media coverage, school and community awards/recognitions, planning meetings with schools, school wide assemblies, winner recognition events and non profit check presentations

24 Here 2 Help Program Overview Umbrella program for Horizon s Community Business and Community School partners Articulates our genuine concern for community Differentiates through purpose promotion Our heart for the community and that we re: 1. Member centered 2. Not for profit 3. Local 4. Nearby Demonstrates our difference through our focus on employee financial stress and workplace performance we re here to help

25

26 Trust/Awareness Creation Through Community Partnerships Community School Partners (CSPs) Community Business Partners (CBPs)

27 Engage using relevant and unique content

28

29 $250 + $250

30

31

32

33

34

35

36

37

38

39

40

41

42 Valuable and Unique Content What is valuable and unique about your SEG and CBP content? How do you keep from running out of new conversation content? Are you selling or are you sharing it?

43 Competition Shop your competitors Understand what they don t do very well, but also what they do Find the difference, and share it

44 20 Work Hours Research indicates that employees with serious credit and money problems waste more than 20 work hours each month thinking about and dealing with money matters. Financial Stress and Workplace Performance: a colloquium at the University of Wisconsin Madison

45 $400 Study of the dollar cost to an employer for employees who are stressed about money matters reveals a $400 annual bill for each impaired worker, primarily in work time wasted absenteeism. E. Thomas Garmin

46 Regardless of Income 8 out of 10 Americans cite money (or, rather, the lack of it) to be a significant source of stress in their lives and, regardless of income, 77% of Americans now live paycheck to paycheck. Federal Reserve Board, Surveying the Aftermath of the Storm: Changes in Family Finances from 2007 to 2009, March 2011

47 More Than 20%! 21% of Americans report that winning the lottery is the most practical and viable way for a person to accumulate money for retirement. Consumer Federation of America and The Financial Planning Association, 2006

48 Education = Profitability Employers can expect, on average, $450 in positive job outcomes from each financially troubled employee who slightly increases his or her financial behaviors and financial well being. Improving employee financial wellness increases profitability. Both the employers and credit unions can help employees improve their financial wellness. E. Thomas Garman, Financial Stress and Workplace Performance: a colloquium at the University of Wisconsin-Madison

49

50 Also, Talk About Predatory Lenders Check cashing facilities Rent a centers Title loan companies This helps differentiate not only your content, but your CAUSE!

51

52 Per 1,000 People Source: Dr. Steven Graves, CSU Northridge

53

54 In My Neighborhood I get to see my favorite customers Tell these stories to your CBP s

55 Rates Investigated WA Pay Day Loan (state mandated maximum) Loan APR % Check Cashing Fees Pay Roll 3.00% Government 3.25% Tax Refund 3.25% Personal 15.00% Other 5.00 % Minimum Charges $2.99

56 Maintain and deepen relationships through ongoing interaction

57 Ongoing Interaction CBPs Quarterly s themed workshop promotions Quarterly follow up phone calls Quarterly visits CSPs September Back to school baskets Clash Cash promotion Student workshop promotion January Back from break survival kits baskets Class Cash promotion Student workshop promotion May Staff appreciation day

58 You can make more friends in two months by being interested in other people than in two years by making other people interested in you - Dale Carnegie

59 Conversation Relationship Ratio 3:1 Them:You

60

61

62

63 Tracking

64 Tracking Tips Track Results that are in alignment with your strategic plan Efforts that support your desired results

65 Documents Ongoing impact Word document End of year report Screen Shot PPT folders: Encouragement End of year reporting Award collection

66 Things to Track New members Loans Meetings How many people you visited Retention opportunities Events attended Events sponsored

67 Things to Track Professional development Awards Media mentions Newspaper articles + circ. daily average Screen shots of: Logo on sponsorship materials Impact Credit union mentions

68 In business development, you can t always track results, but you can always track your efforts

69

70

71 Community School Partners Efforts Number of CSP (Community School Partner) trips taken to targeted communities: Total: 21 Missoula: A level: Big Sky, B level: Willard, Valley Christian: 5 Moses Lake: A level: 5 Sandpoint: A level: SHS B level: LPO, Forrest Bird Charter: 7 CDA: A level: CDA HS: 4 Spokane: A level: B level: Bancroft HS, NPMS (in town) Number of CSPs engaged using tri framework: Goal: 11 schools (5 A level, 6 B level) Students number of financial literacy programs conducted: 19 /4,382 students Find Pig, Win Big Programs: Total Programs Run/Total Students Reached: 6/1,030 Financial Field Trip Programs: Total Programs Run/Total Students Reached: 2 /40 students Classroom Presentations: Total Programs Run/Total Students Reached: 4/120 students Other (YLS, WBW, or as requested): 2/50 students Staff number of staff support programs conducted: Class Cash Program: Total Clash Cash Awards Distributed: 10 (2 per A level schools Fall/Winter) Classroom Presentation Promotion total amount H2H student workshop flyers promoted: 10 (2 per A level/ Fall/Spring) Staff appreciation drop offs: 15 (3 per A level, per year September/January/May) # of staff engaged: 545 staff Parents/Community number of parent related programs supported/sponsored : 22 Booster clubs/pto events sponsored: 6 8 Number of community/school recognitions/awards: 3 5 Number of media mentions: 3 Newspaper 3

72 Community Business Partners Efforts Number of CBPs engaged using CBP Engagement Blueprint : Total 50 6 visits per year, per CBP 4 quarterly phone calls per CBP, 4 quarterly s to them promoting H2H workshops 2 seasonal gifts spring/winter? Number of CBP (Community Business Partner) trips taken to targeted communities: Total: 22 Missoula: 6 Moses Lake: 4 Sandpoint: 4 CDA: 4 Spokane Valley: 4 Number of CBP workshops conducted: Total: 10 Josh (credit, budgeting, money management, id theft): 4 Other SME s (Phil on investing/insurance/saving): 6 Number of CBP/Chamber/Civic Event Sponsorships: Total 14 Missoula: 4 Moses Lake: 4 Sandpoint: 2 CDA: 2 Spokane Valley: 2 Number of CBP specific events (benefit fair, new hire orientations, etc.): 6

73 Community Business Partners Impact Number of new members recruited: Goal: 140 CBP members (this only includes members we can track) 2013: : : 83 Number of new loan applications started/booked from XP designated (existing and new CBP members): Goal: Started:1,050 Booked:600 booked 2013: Started: 923 Booked: 514 (55%) 2012: Started: 1,022 Booked: 569 (55%) 2011: Started: 993 Booked: 516 (52%) Number of direct deposits/e statements/checking accounts incented via Partner Perk program: Goal: TBD as is this program) 2014 (projected this program is still TBD if it will be kept) 2013: Direct Deposit: 38 E statements: 22 Debit Card: : Direct Deposit: 47 E statements: 30 Debit Card: 55

74

75 Final Thoughts Align efforts with strategic plan Track efforts and impact Create frameworks for engagement Be honest about what is meaningful and relevant to community business partners and SEGs