ATLANTIC CITY, N.J. — As credit unions are looking for biggerand better revenue strategies, the sales-service philosophy isbecoming increasingly important.

Jeff Rendel, president of Rising Above Enterprises in Corona,Calif., advised credit union professionals and volunteers attendingthe New Jersey Credit Union League's Annual Conference on Monday toimplement a structure that aids both the member and the creditunion.

For example, when a member signs up for a transaction account,get an instantly issued debit card in their hand. Rendel added thatoffering mobile banking and bill pay will help keep the memberstied to the credit union.

“The easier we make it for members to go through the hoops andthe more meticulous we are, the more you grow your revenue stream,”Rendel said. He later explained that the Customer Effort Score,which determines how easy it is to do business with you, is thehighest predictor of member satisfaction, beyond even the NetPromoter.

Also, implementing a tool such as Salesforce can help loanofficers track where members are in their loan decision process.When a credit union member expresses interest in a loan, there's anestimated 30% chance of closing the loan. If they move onto thepending/approved status, the chance of closing that loan jumps upto 50%. After the credit union approves the loan, the chances areeven greater at 70%, and you don't want to let these applicantsslip through your hands, Rendel said.

Finally, when the loan is completed and you just need them tosign on the dotted line, you've got a 90% chance of closing theloan. Rendel recommended at this stage, “Go to them. Just goto them.”

Particularly with a small business it's helpful to the member togo to their location, or even a member's home if they want.

Another idea is to look for loans your members have with otherinstitutions and offer them a better rate. It's crucial, Rendelsaid, to manage the flow of opportunities with skilledemployees.