Building A Sales Culture

Bob Larson, financial support consultant for CUNA Mutual Group

Bob Larson, financial support consultant for CUNA Mutual Group

Robert Larson, financial support consultant for CUNA Mutual Group is cautioning Credit Union “to grow non-interest income in today’s economy; credit unions must focus on the areas they can control, in particular, building deeper relationships with current and new members through a strong, transparent sales culture.” This sales culture should be achieved through credit unions’ efforts at cross-selling additional services. The more services that a member can access at their Credit Union, the deeper the relationship that is created.

Larson also notes that in order to deepen member relationships, credit unions must ensure their sales culture focuses on building lasting member relationships. He outlines four key components of building a sales culture:

Champion: infuse top-down management commitment and communication

Train: prepare staff to meet members’ needs with confidence.

Coach: provide staff with consistent recognition and positive reinforcement to align management and staff behaviours to support the credit union’s goals.

Track: inspect what you expect to obtain through quantifiable data for coaching, training, and making improvements

A credit union’s sales culture difference should be that it start and end with the member. Larson reminds credit unions that “the most important service of the credit union is the education of its members in the management and control of their money” and this philosophy should be the ultimate driving force of a credit union’s sales culture.

The current market conditions have greatly affected credit unions’ earnings and are likely to continue impacting earning in the future. Therefore Larson is encouraging credit unions to explore every aspect of their income statement to leverage additional income and keep their revenue streams flowing.

“The time to act is now, focus on your members, and the rest will come.” (Robert Larson 2012)

Source: Credit Union Magazine

“Maximize Noninterest Income with a Transparent Sales Culture”. 

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