Are your branches staffed appropriately? How can staff be more productive and efficient? This data, from the Crowe Report on Branch Performance, demonstrates the differences in financial institution branches and staffing models. Total deposit balances are similar between In-Store and Limited Service branches, although In-store branches have new checking sales and teller activity almost matching full service branches. As in-stores are traditional transactions centers, the similar numbers are appropriate, even given the lower slightly lower staffing levels.
The difference in productivity though, can be seen in the lack of penetration in checking accounts between Full Service and In-Store branches. In-store branches already have a retail atmosphere – make sure your staff feels comfortable with cross-selling goals and approaching potential members. One of the major differences between an in-store branch and a traditional branch is the opportunity to interact with thousands of members walking through the retailer each day. The challenge for credit unions, though, is making sure they get noticed. Monitoring the sales and marketing activities for both completion and value is important for credit unions be successful in this area.