Employee Training Programs Produce Real World Success and Measurable Results for CU's

Employees are our most valuable asset! We've all heard this from our peers and have said it ourselves, but does this really hold true at your credit union?

''Employees are our most valuable asset!'' We've all heard this from our peers and have said it ourselves, but does this really hold true at your credit union? Employees are the most valuable asset at any credit union. More specifically, well-trained employees are a credit union's most valuable asset. Employees trained in member service, loan decisioning and sales skills will produce increased member satisfaction results, more closed loans and lower delinquencies; directly affecting the bottom line of the credit union.

Today, credit unions are expanding their hours of availability and their product lines in order to better compete with other financial institutions. These enhancements are critical to the success of your credit union, but ultimately how your members perceive the way they are treated by your employees is what will make them utilize the services of your credit union again and again. As a result, training continues to be an area that requires a great deal of focus and many credit unions are looking for education programs that will have a positive impact on their credit union and their employees. The answer for many credit unions has come from programs such as Lending Solutions, Inc.'s University of Lending and Call Center College.

''The Only Rules You Really Need to Know''

Rex Johnson, instructor for the University of Lending, includes in his class ''The Only Rules You Really Need to Know'' as provided by Sam Walton, the late founder of Wal-Mart & Sam's Club. If your employees play by these rules, your credit union is on their way to satisfied members and strong financial results:

  1. Commit - Commit to your business. Believe in it more than anybody else.
  2. Share - Share your profits with all of your associates and treat them as partners.
  3. Motivate - Motivate your partners. Money and ownership are not enough.
  4. Communicate - Communicate everything you possibly can. The more they know, the more they will understand
  5. Appreciate - Appreciate everything your associates do for the business.
  6. Celebrate - Celebrate your successes. Find some humor in your failures.
  7. Listen - Listen to everyone in your company. And, figure out ways to get them talking.
  8. Exceed - This is the big one! Exceed your customers' (in our business, members') expectations.
  9. Control - Control your expenses better than your competition.
  10. Swim - Swim upstream. Go the other way. Ignore conventional wisdom.

Real Results for Credit Unions

Middlesex Schools Federal Credit Union ($52 million; Middletown, CT) is one credit union that has experienced the results of the University of Lending and this type of training first hand. ''Our credit union has seen tremendous success from Rex's techniques,'' states Jay Haller, Vice President of Lending at Middlesex. ''We have learned to build a better loan and therefore we have seen a reduction in the number of bankruptcies. The biggest gain has been in the ability to regain the Platinum and A members we were losing to the local dealers. All of our lending staff and management team have attended the University of Lending, and the training has been invaluable. The application of these techniques has translated into an ROA of greater than 1.00% last year and we have achieved another 1.00% this year as well.''

Another credit union that has encountered great results from the University of Lending is Power Federal Credit Union ($189 million; Syracuse, NY). ''For the 1st time in 8 years, net loans from the 1st quarter increased from year-end totals,'' states John Wakefield, CEO of Power. ''I also wanted to comment that morale has never been better. All of our front line staff that we sent to the University of Lending came back energized and motivated. Many employees have significantly increased their volume of loans after attending the school.''

Front Line Employees Impacting the Bottom Line

The Call Center College classes available from LSI are specially tailored to provide your front-line employees, member service representatives, with the critical knowledge, techniques and strategies necessary to expand the employees' overall capabilities and achieve greater lending success.

Christina Rice from Granite City Steel & Community Federal Credit Union ($122 million; Granite City, IL) attended a recent class and has experienced the results. She says, ''My overall cross-selling has increased by 50 percent with the largest impact coming from credit life and disability. It was a great experience and I hope everyone from my credit union gets a chance to attend. My comfort level with credit reports has increased dramatically, so that I now counsel members on how to improve their credit and look for opportunities to better serve them with the appropriate credit union loan product.''

Service - the Key Factor

With the increased competition in the financial services industry, the need for well-trained employees has never been greater. Service is the factor that will separate the winners from the losers in the 21st century, and the only way to achieve better member service is to equip your employees to be the best by providing them with the latest technologies and with the training they need to succeed. A commitment to training requires time, money and management support, but the results of ensuring your employees are the best in the industry, is a happy member and strong bottom line.

To find out more about Lending Solutions, Inc.'s University of Lending, Member Service School and Train the Trainer classes, visit their website at www.nlpc.com, call
800-574-6572 or e-mail lsisales@nlpc.com.



July 16, 2001



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