The first 90 days after a new member signs on have taken on new meaning as the industry continues to experience slowed membership growth.
That time frame is especially crucial if the member's entry came through an indirect loan. Behind the scenes, the expenses to build on those new relationships have become more scrutinized as credit unions seek out solutions that offer more long-term return on their investments.
For several years, the $970 million AmeriCU Credit Union underwent a few transitions in its quest to find an efficient and a realistically applicable model to keep new members engaged with more products and services, said Timothy "Tab" Rightmyre, coordinator of marketing analysis and product development at the Rome, N.Y.-based cooperative.
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