Improve Earnings and Protect Assets with proven fee income strategies!
Client Success Story
"We like the product and have gotten many good comments from our members regarding the minimal cost and confidence in the coverage. We initiated this program to our membership early in 2014. The initial reaction was mixed, but with the training all of our staff received from IDProtect® we were able to fully explain the product and get most all of our membership to appreciate the product. The manner in which we introduced the product up to the membership also helped. We decided that no member would be able to get the product for free. We rolled it out and called it our “Checking Plus Account”. For $3 per month the member received this account which provided them with IDProtect®, Paper Statements and Free Bill Pay. The next less expensive checking account was $2 per month. This provided none of the IDProtect® or Bill Pay Service but it did provide paper statements. The FREE checking called our “Green Checking” provides none of the above and statements are sent via our home banking relationship, by email. The keys to a successful rollout are:
- Full Staff Training PRIOR to the Letters being mailed to the members. This is where your Staff buy-in happens!
- Always giving your Members an option to not have the product and keeping their account relationship free or at no great cost than previously.
- CLEAR communications that the options are available.
- For Staff who are willing to help sell the product, we offered an incentive to convert 80% of the Membership.
- We have a Club for members 50 or older to get free check printing for using 3 of our services, the free paper statements was then included in this package. We felt members who are older are less comfortable with the e-statements, so we left them an out. However, I was surprised how many of our Club members took advantage of the IDProtect®. They feel very vulnerable to ID theft and liked the feeling of knowing that someone is looking out for them.