This credit union had its sights set on becoming one of the largest in North America and recognized they needed to seek efficiencies across the business and improve financial performance to accomplish this goal. See how PROFIT INSIGHT supported this effort.
A credit union with an expansive regional footprint had plans to triple its assets within five years and become one of the largest in North America. Senior management, including the CEO, believed their many manual processes, heavily concentrated in the back office and in the branches, inhibited growth and kept them from providing the superior level of service their members cherished. All recommended strategies would be evaluated not only for the value they would generate, but also had to be consistent with their organizational objective to bring enhanced quality to member service.
Profit Insight reviewed all banking products, services and operations with a particular focus on retail deposits, exception processing, branch activities, fee assessment and waivers.
Identified and recommended 18 strategies across multiple areas of the credit union worth nearly $6 million in annual performance lift.
Client ultimately implemented 11 of the strategies with annual value of over $3 million per year.