CREDITUNION JOURNAL THE NATION’S LEADING INDEPENDENT CREDIT UNION NEWSWEEKLY Vol. XIII, No 16 April 20, 2009 Identifying (Sick) Members To Head Off Bigger Problems Later By Kevin Jepson, “We’re looking at what types of mortgages Technology Correspondent are going sideways and talking to the bor- rowers ahead of time. Or our central servic- NORTH VANCOUVER, B.C.–Maxed- es department might see multiple overdrafts out members are getting personal calls from and send a report to the CRM and to an financial advisors at North Shore Credit Special Repo assigned account, with the idea that maybe rt: Union here, who are acting on daily alerts Technology the financial advisor should call the account issued by the CU’s Customer Relationship holder.” Management (CRM) system. “We’re constantly looking to see where the Whether members are maxed-out by debt next issue is,” he said. or by disheartening financial headlines, the CRM also helped North Shore reach out $2-billion CU uses CRM data to “help in November to about 200 “key” members members who are trending toward a posi- to bulk up deposits in a time where mem- tion we don’t want to see them in and to North Shore automatically translates data bers were justifiably “skittish” about other quickly deal with the risks in our books of from multiple systems into CRM reports that investments, Cook continued. The provin- business,” said Fred Cook, CIO. alert financial advisors about loan and deposit cial government had just voted to provide The CRM system–the heart of North trends, Cook explained. Each advisor has an unlimited deposit insurance to all credit Shore’s tech anatomy–amasses data from mul- assigned “book” of members to counsel. unions in British Columbia, up from the tiple systems, including the core, mutual “About 20% of our members are assigned to previous $100,000 protection–and North funds, investment, credit products and insur- a financial advisor. One advisor would be Shore used CRM to make the most of the ance systems, and is thus able to keep an eye looking at mortgage reports, another at change. on myriad trends, such as rate changes, or on investment reports. The advisor then calls the “The day that unlimited insurance was segments of its portfolios, such as jumbo member to take a proactive approach” to announced, we used the system to reach out loans, Cook said. stemming delinquencies or ramping up to all key accounts and reassure them that North Shore has used Pivotal CRM, offered deposits. the credit union industry was strong and by Atlanta-based CDC Software, since 2000. that insurance was unlimited,” said Cook. “CRM has always been the place where we start and end our day in terms of how we interact with members,” added Cook. “But at times like this, CRM is an even sharper tool. When the W e’re looking at what types of mortgages are going That made members think twice about spreading their deposits across several insti- tutions–they could keep all their money at North Shore and have it 100% insured, he market shifts, it’s a matter of how well you respond sideways and talking said. to the information you have on your members.” That campaign was superior to “blowing CDC Software has noticed that more cus- to the borrowers our brains out with jumbo rates” to attract tomers are using Pivotal to get “closer and ahead of time. deposits and then “trying to figure out how to more consistently in touch” with members, pay for them in the future,” Cook said. according to Jason Rushforth, VP-worldwide –Fred Cook The results? “The calls were very success- marketing at CDC. “Our customers are ful,” according to Cook. “We know from our reaching out to every member, whether “We have not gone down in our book of statistics that making a few phone calls makes through direct calls or emails. Member needs business as much as the marketplace has taken a difference. We also get the opportunity to are dramatically different today than they a hit, and part of that is because we’re talking have trusted, advisory conversations and were two years ago.” proactively to our members,” Cook said. understand our members’ fears.” ©2009 SourceMedia Inc. and Credit Union Journal. All rights reserved. SourceMedia, One State Street Plaza, New York, N.Y. 10004 (800) 367-3989
"Pivotal CRM Analyst-Credit Union Journal"