ATLANTIC CITY, N.J. — Following a sales-service philosophy is becoming increasingly important to implementing new revenue strategies for credit unions, Jeff Rendel, president of Rising Above Enterprises, advised attendees of the New Jersey Credit Union League's Annual Conference last week.

Implementing a structure that aids both the member and the credit union is key. For example, when a member signs up for a transaction account, get an instantly issued debit card in their hand, Rendel said. He added that offering mobile banking and bill pay will assist in keeping members stuck on the credit union.

"The easier we make it for members to go through the hoops and the more meticulous we are, the more you grow your revenue stream," Rendel stated. He later explained that the Customer Effort Score, which determines how easy it is to do business with you, is the highest predictor of member satisfaction. It's even more predictive, he advocated, than the net promoter score, which measures how likely a member is to recommend your credit union to friends and family.