Strategic Solutions Help Credit Union Exceed Growth and Engagement Goals
Carolyn Jordan, Chief Growth Officer at Neighborhood Credit Union (NCU), has dedicated over 40 years to the financial institution. As she watched competition, technology and consumer expectations increasing over the years, she recognized the critical need to elevate the member experience, raise engagement and strengthen its overall performance.
To rev up the credit union’s results, she implemented the Retail Performance Engine™ — a suite of three retail banking solutions that she deployed over five years: Account Revenue Solution® (ARS), My Rewards® Premium Cards (MRPC) and Invitation Checking® System (ICS).
Approach
First, Neighborhood launched ARS to keep their members continuously engaged — particularly those who weren’t actively using their debit cards. The segmentation capabilities of ARS helped the credit union identify more opportunities to encourage account activity, stem account closings and reduce charge-offs.
Then, NCU started exploring MRPC, a tiered debit card rewards solution. Though they had their own debit card program in place at the time, certain segments of members weren’t using it. MRPC appealed to the credit union for two reasons:
- It’s fully automated, requiring no additional effort from her team; and
- The monthly fee gives members (even those who don’t qualify for a credit card) access to valuable rewards while creating an additional revenue stream for NCU.
After success with both of these programs, NCU launched ICS to acquire more high-value accounts and improve profitability. Working closely with CSI’s Velocity team, NCU set goals for digital referrals and tracked performance through monthly reporting.
Where It All Began
Neighborhood Credit Union’s first experience with CSI’s Velocity products came in 2019 when it implemented their consumer liquidity program, Intelligent Limit System® (ILS) to realign its overdraft program to create a fair, flexible, member-first strategy with:
- Transparent limits — Members know their exact overdraft purchasing power.
- Monthly evaluations — Limits adjust up to $3,000 based on a member’s ability to repay.
- Enhanced financial stability — A data-driven approach supports members while managing risk.
With this new strategy, NCU strengthened member trust and provided them with greater financial flexibility during challenging times.
Results
The Retail Performance Engine™ exceeded NCU’s expectations on all three fronts, resulting in substantial growth, reduced churn and increased member engagement:
Conclusion
Over the past five years, Neighborhood Credit Union has strategically expanded its partnership with CSI and its Velocity team, implementing four key banking solutions that have enhanced profitability and member satisfaction. Using data to drive their decisions has helped them deliver a more personalized, relationship based experience, setting themselves up for long-term sustainable growth.