What is Gividends?
Gividends is a portion of the CU*Answers Management Services team that is dedicated to promoting positive behavior within your membership and rewarding members accordingly. We will be a resource for analyzing and strategically planning for how tools from CU*Base may be utilized to maximize the relationship with your members. We will assist with building the relationships of your members with you Credit Union and foster that relationship to create increased participation and promote this within your membership.
The first tool that may come to mind with Gividends is the Tiered Services program that is available through CU*Base. This is a robust tool that takes careful planning and execution for the benefits to become apparent. Gividends is a place where you can reference an area of experts that have been involved in the coaching and analysis of the implementation of many different Tiered Service programs. The ultimate goal of every program is to reward what your credit union considers positive behavior, and then through the reinforcement of points and benefits (and a little marketing along the way) that behavior will most likely be repeated. For example, if a member receives a fee waiver on their overdraft transfers (for example) and then do not receive the overdraft transfer for a recent overdraft occurrence, they may call the credit union and ask why. This is a great opportunity for your credit union to work with the member and help them understand what products and services can push them into the next level of rewards to ensure an ongoing level of satisfaction between Credit Union and member.
One of the next options in CU*Base that Gividends is an expert in is Marketing Clubs. Marketing Clubs is another way in which members can be allocated to a segment of members that have a common bond (you could create a poker club if you want to!). By segmenting these members into a group, you can provide certain benefits and fee waivers. The member may or may not have to pay a fee to remain in the club, and may also have to continue using a product or service the Credit Union offers to remain a member of the marketing club. This is done through an automated program within Marketing Clubs called Active Status Tracking. Gividends has the knowledge and expertise to assist with configuration and a realistic spin on how it may have an effect on your membership. This may include an analysis based on historical data and how this can be used to predict timing and data in the future.
Service Charge Configurations and Bonus/Patronage Dividends are another group of products and services that Gividends is constantly promoting from the CU*Base core platform. These are real time opportunities that can be analyzed and discussed with the Gividends team to ensure that all caveats of the Service Charge or Bonus/Patronage dividend are taken into consideration.
Gividends can also assist with It’s Me 247 online banking program management and implementation. This may include the rollout of the PIB program to your membership, or implementing Mobile Web Banking, etc. The Gividends team can help analyze the data from CU*Base and offer suggestions for what products and services are not currently available for members to perform on their own in online banking, and after a few months’ time this could result in your team having more time to focus on cross-sales efforts, etc.
Analyzing your deposit products may also be an interesting piece of the puzzle that is sometime overlooked due to the desire for a growing loan portfolio in the current economy. Gividends can assist in implementing a Qualified Dividend share product that pays a higher dividend based on a member meeting a certain number of conditions. We could also implement a Debit Card Round Up program where your members could inherently save money to the account of their choice based on their everyday spending.
We are also very interested in income generating opportunities for your Credit Union and understanding how we can help. Would it be worth it to promote CU*EasyPay! to your membership; or would you rather have a member pay $22.00 for a box of checks? The credit union could charge nominal fee (if it not currently being charged) for the CU*EasyPay! service and even offer classes to members on how to use the product, configure their payments, billers, etc. We will dive in head first into opportunities that will generate income and have a direct effect on your Credit Union’s bottom line.