January 1997 - Enterprise Magazine

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•
VOLUME 57 NO. 1
INSIDE
JANUARY/FEBRUARY 1997
t
Pulling the dinosaur's
Il
tail: Richmond
Savings' Brent
Cuthbertson (left) and
r
Doug Billingsley have
I
taken B.C. credit
~
union advertising to
~
the edge, sparking an
I
intense debate within
the system. Some say
they're waking up the
banking industry;
others say they're
tapping into
legitimate consumer
PHaI'OBYKALLBERGDARCH STUDIOSL'ID.
concerns.
THEME STORIES
Province-wide advertising campaign on target
Hmmingous B ank earns awards, flak
Advertising su ccess story
B .C. credit union advertising collage
3
6
10
14
•
Enterprise Staff
MANAGEMENT PERSPECTIVES
:\lnnuger . Cen1rul Crc11tin• S1·n·iru GAYLE STEVENSON
CCA' s reality ch eck
12
20
Don't reinvent the wheel
22
MCIF marke ts magic
Editor & Photographer THOMAS GIES
Drsign & Pro1Jur1fon Munager LAURIE VOSTERS
Suh n·ril1er Set·,•ice Jt~prt•se nt atiw• JENNIFER QUART
Cover LAURIE VOSTERS
Contributor•
DEPARTMENTS
Writrn JOHN JULIAN
Director's Chair
16
18
Happenings
2 4·
Roots
RICK KREKLEWETZ
CLARENCE MORIN
DAVID MORTON
ENTERPRISE• JANUARY/FEBRUARY 1997 • 1
LETTER FROM THE EDITOR
Ct
CreditUnion Centra 1
or DIRECTORS
BOARD
Chairperson
IRI Vicc-Clrnirpe1·son
2nd Vice-Chairperson
Executive Conunillee
Execuli\'e Commitlce
In this issue
Director s
'm banal retentive. I r emember all kinds of useless information, like lousy advertising. A current example is
the radio campaign by the people's gas stations. " .. .in
Vancouver, where swimming to work ... " H ey, you creative-ch allenged clowns, crush my c1·anium if you can,
but don' t bore me. Punching car-radio channels in rushhour could impair my h ealth.
Banking ads also u sed to be dull blandishments, I recall, big on treacle. R emember this gem from decades ago
that still sticks in my craw? " Daddy, I love you," the little
girl said after her wage-slave father scored a mega-loan
to buy a backyard pool big enough for a pod of pre-free Willies.
But bank ads h ave evolved. Now, the Dayton boots are on and banker s are hiring tO}) ad agencies to prepare snarling, attack uds. Wait :
n._ilianx a n egative ad? I think so; most may not. To me, the cw·ious kids
and Dylanesque Muzak cleverly bash the competition. Exploitive? I suppose not, but certainly irritating.
More inter esting is the reaction of the Canadian Bankers Association
to Richmond Savings' Humungous Bank campaign. An insult to bank
employees is only one of the CBA charges. Mind you , tllis is the same
association that drew new battle lines in the Fall of 1996 with an ad under a United Way banner touting the "Humongous" (sic) contribution its
employees made to the charity. Dolla1· amounts were mentioned - but
not the obvious p er employee amount. Richmond Savings chose not to
r espond to the ad. United Way probably never knewthey'dbeen dragged
into the fiscal fray that was just then breaking out.
Some B.C. cr edit union player s disagree vehemently with the tone of
Richmond Savings ads. They believe we're going to awaken the giant,
which could crush u s with predatory pricing. It's a legitimate fear. Other s respond: imagine the spin that a b ank would need if such a strategy
was r evealed? More likely a subtle, piece-meal campaign may h ave already started. Th.is begs the question: Were banks' marketing departments
asleep b efore this campaign? Are they really not aware of our market
share and are they not ready to challenge us, regardless of Richmond
Savings ads?
Meanwhile, the province-wide communica tions campaign reports
tracking results that generally exceed targets . Central VP Ter esa Freeborn explains how it evolved from mildly humorous cr eative to a much
more aggr essive comparative theme. And for a look a t some uniquely
positive campaign,s , check out the ads on the cover andin the centrespread
of this issue.
Of course, no sm·vey can look at all B.C. credit unions' ad campaigns .
Ifwe missed yom· campaign, send us the creative and a nasty letter ; we'll
try to fit it in an upcoming issue. Huh? Yeah , the creative; the othe1· we
hm·n.
Anyway, as the investment shill on the radio ad says, "Have a profitable day. " I won' t but I will retain the message.
Editor
2•JANUARY/FEBRUARY1997 •ENTERPRISE
HENRY JANSEN
PHILIPMOORE
SYLVIA PRITCHARD
H . A. (BERT) MILES
MIKE TARR
BILLCOLLINS
JILL KELLY
ROCHJ:LLB MAGOON
CATHYMANSON
ROSS PARRIN
PEARLGRAHAM
CARL LIDEN
TOD MANRELL
GORDONMUNN
CORO STRANDBERG
PEER GROUP EXECUTIVES
G rou p
l (Nort hlin e)
DuUu Cooln Vnlley
Houslon and Dietricl
Lakes Dislrict
Nori h Pcucc Savings
Williums Lnke and Districl
J.MORTON
T. BERNARD
P . SEVCIK
I . FISCHJ:R •
W.COLLINS
G r o up 2 ( Okanogan)
Arm.<tmugSpallw11cheen Savini;<
D. HUIE
Interior Savings
C. ELLIOTT
Rcvehtoke
R. HOLLAND
Salmon Arm Savings
H.VANDERHOEK•
Group 3 (Kootenay)
Kimberley
Koolcnoy Savings
Nelson & Dislricl
Rossland
Warfield
D. SCHICK
R. MAGOON
S. GILFILLAN
J.HARASIN •
M. TAYLOR
G1·ou p 4 (Vancouver I. l and)
CeePee
Cwnhedoncl & Dislricl
l sl11nd Savings
Nonoimo
Comox Valley
Grenier Vicloria S•vings
G.DUNN
T.HARRISON
P.GRAHAM
R.BENNIE
L. HILL
B. BITTNER•
Group 5
D.C.S.R.
CCEC
Compensation Em1)loyccs
KCP
Scoll P aper Employees
G
l' 0 II
Alclergrove
Greute1· Vnncouver Conununity
Khalsa
Mt. Lehman
Uniled Civic Suvings
V.P.
Village
G
l' 0 LI
Fil'SI Uerilngo Sn,~ngs
Gulf nud Frasel' Fisliurmcn's
M•plc filtl gc Conummity
NorthShore
Wes1mim le1· Suvings
M. WONG
J.KELLY
A.DHANANI
M. FERRIGAN
N. MATHERS•
Jl 6
N.RANSON
P. MOORE
G. KHALSA
G. BLISHEN
E. MACINTOSH•
R. BALLAM
T.ASKE
p
7
B. VOTH
L. GATTO
C. FRENCH
F.BROWN•
M. EDWARDS
Group 8
Pucific Const Savings
Richmourl Savings
Sur rey Metro Savings
Vancouver City Snviugs
H.A. (BERT) MILES •
• Denotes Chairperson
Enlcrpri 1ei~ puhli sh eJ hy CreiliL Union CcnunlorDrili5h Columhiu. Suh·
sud ~lfou rules: $25/yr'. Canada ; $27/yr . USA; S3 U/yr. Overseas (CDN).
Opi.uiuua e.x prc15crl in th is publicnlion ore 1101 lH:ccnuriJy thu!l.r. or tltr
publisherort:dilur. TbecuolcnU orcrovcrcrl byrOll)'1'igli t a nd nUrights are
rr.s(';rvecl. No 111u1t~ri1tl in this publica tion m.oy hr rcproc lu rc41in uuy Corm
without penuission. For information conccrningEntrrprisccontact: Cren·
ti ve Scrvkc1, Creel it Union Cenlral o(Britisb Culu1111Jiu , 1441 Crcck5irlr.
Dri\'c, Vancouvc·r, B.C. V6J 457 Phone: (604)734-2511 ISSN0319-ll626
I
1
THEME
I can take it soine more!
Switch rate up as sweaty palms salute province-wi
dvertising
Reaching out for new
business, the latest
phase of the
province-wide
communications
program has
improved B.C. credit
union ratings on
several fronts,
including the all·
important switch and
he switch is on. Recent trncking
results indicate that six per cent
of Bdtish Columbian s h ave
switched to a credit union in the
past 12 months, up from four
percent in a similar period in
October 1995. The rate topped
eight p er cent in D ecember,
1996 , after heavy credit union
advertising. And the awareness
ratings, the all-important prccm·so1· to switching, have exceeded most targets
and continue tt·ending favourably.
The time frame from launch to s uccess, h owever, wasn't stress-free. The province-wide communications committee hit - but qui ckly
transcended- the "sweaty palms" stage, admits
Central VP Ter esa Freeborn when she r ecalls the
late 1995 launch of the current advertising platform. The committee of CEOs and marketing
executives from various B.C. credit unions were
taking a bold step: the image program was switching from mildly humorous creative to a much
more aggressive " comparative" theme. If the fine
line between too tnild and too aggressive wasn ' t
struck, the $ 1-million-plu s a year ca mpaign
could explode in their faces.
Although most advertising campaigns are
incremental, this one grnbbed much attention
with its strong visuals of wild animals and a ja1·ring voice screaming, " I can ' t take it a nymore!"
Voice-overs point to bank line-ups, p oor service,
service cha1·gcs and sky-high profits. The message, of course, prompts television viewer s to
consider "switching" from a bank to a credit
union. The TV-heavy campaign is supported by
p1·int ads and point-of-purchase matcdals.
Who's r esponsible fo1· such original cr eative?
Freeborn gives full cr edit to Alvin Wasserman,
the principal with Wasserman and Associates,
Central's agency of reco1·d. " He 's a creative
genius. We b1·ainstorm ideas and his team
quickly storyboards them." Then the committee
chooses selected ones for fine-tuning before testing them on focus groups.
The goals, according to the ad agency's account director, Gary Grafton, are to diffcrentia t e b e tw ee n cre dit unions and banks , to
establish credit unions as positive and viable
alte1·natives, and to show that credit unions are
awareness rates.
JMAOES GENERATED
FROM THE CAMPAION'S
TELEVISION ADVERTISING.
•
ENTERPRISE • JANUARY/FEBRUARY 1997 • 3
Who's watching these
ads? A lot of people,
according to the most
recent tracking
research by Majid
Khoury of Market
Explorers. The aided
recall rate is an
impressive 70 percent;
well above the target
worth "switching" to. Grafton says tha t his team
develops print l ayouts a nd TV storyb oards " to
create a totally unified campaign. " These are
reviewed by the committee at sever al sta ges.
" Aftet· we fine-tune d the creative, we were
quite comfortable with the ' Call of the Wild '
concPpt," F reeborn says. "We knew from extensive r esearch that our message was a ccurate and
that we could deliver ever ything implied in the
ads. It's well-known in onr indust1·y tha t future
credit union gr owth won' t necessarily come from
buoya nt mar kets - it will come from incr easing
our mm·k et share at the expen se of the h a nks.
Om· current creative concept t akes full advan tage ofl1ow individuals arn feeling towards their
banks. The cr eative r eflects how con sumers feel;
they can relate to it and do something about it switc h to a c1·edit union!"
of 50 percent.
•
VULTURES AXED
For the most r ecent phase, the province-wide
comnumications committee, whose men1bcrs represent ab out half of the system's assets , r ejected
some "h o-hmn" cr eative; they also axed a n ature
spot featuring banker s a s vultures, according to
ROYALLY RANKLED
T
he Royal Bank's B.C. and Yukon District recently se nt a four-p age newsle tter to its staff attacking B.C. c redit unions on a number of fronts .
including "misleading a dvertising." Supplemente d with a video, the newsle tter is culled from a 151 -page report. The c all to the trench es com pares
e verything from pricing structures to service charges to community con tributions; the la tter. howeve r, flas hes around large sums of money w iLhout
brea king the m down p er employee. Regardless, Central VP Freeborn believes the res ponse re s ulted from "individual branch ma nagers a cross the
province who realize d the y were losing even more business to the local
cred it union. The Roya l Bank considers credit unions as formidable c om pe tition in this province."
Freeh orn. The happy medium is essential to the
campaign 's ma in objective: getting frustrated
bank user s to switch , or at least consider switching, to a ct·eclit union. The "light-h earted" tone ,
complete with turtles, penguins, liza1·ds and more,
is designed to appeal to consumer s aged 25 - 49.
C1·cdit unions, F reeb orn stresses, must be seen as
" positive and viahle alternatives" to hanks b efore cu stomers will b other with switching.
An ongoing conce1·n , of course , is meshing the
pro vince-wide platform with local campaigns.
Hazel Martin, advertising and promotions manager with Vancouve1· City Savings, b elieves the
campaign wor ks for Van City. " We haven 't done
any strictly image a dvertising since 1995, when
we talked about accessibility and o ur c0111oratcsocial role. Now, we're much mo1·e into product
advertising that subtly inco1·pora tes an image
element." Her credit union 's positioning, Martin says, stresses the positive reasons for dealing
with Van City, including its full r ange of financial
products.
Although Can ada 's largest cr edit union has
used limited television advertising in the past ,
the current RRSP c ampaign u ses newspaper
ad s, radio spots and p osters on buses . VanCity,
of course, is in the enviable position of gaining
plenty of public r ela tions points with its welldocumented histo t·y of supporting a range of
conununity projects.
On Vancouver Island , Pacific Coast Savings'
mana ger of co rpora t e c ommunic ations,
Catherine Piazza , r ep orts that the credit union i<;
r evamping its image ad vertising but maintaining
the Caring Makes a Difference message. She says
that in an er a of high-tech , low touch , a " caring"
theme helps the cr edit union to " differentiate" its
message from the com1Jetitiou. The credit union is
aware , however , that its ad ve1·tising has a "soft"
image; new creative will b e " more dramatic, wi th
a stronger call to action ."
As for the prov ince-wide ca mpaibrn , Piazza
sa ys, "It's not in conflict with om·s but there is a hit
of a leap." But as Pacific Coa st Savings re-works
its "caring" theme, the two will h e a b etter mesh ,
she says. Regardless, the credit union is committed lo maintaining strong per sonal ser vice alon gside electronic ban king and will continue with its
widespread comnumity r elations.
F r eeborn b elieves that the province-wide
communications progr am " does complem en t
local product advertising. Om· T V ads encourage consumers to t1·y u s and the local campaigns
promote the sp ecific products." She also suggests
tliat local cr edit union image ca mpaigns tie in
nicely with the provin ce-wide prognm . Awa rnn ess r esearch confit·ms that cons11111e1·s are ge tting the "cr edit union" message.
E ssenti al to any a d ve1·tising campaign , of
co1u·se, is maintaining " top-of-minrl awareness"
with the consumer . Freeborn notes that the
Continued on page 2 8
4• JANUARY/FEBRUARY1997 •ENTERPRISE
You could hardly fault your competitors for wanting to
create some new patrons of their art. After all, your
members' business looks as good to them as it does to you.
With the challenges there are today to keeping members'
business with your credit union, it's good to know that
support is nearby.
By supporting initiatives like personal financial planning
services, the ems program is working with credit unions to
keep and expand members' business. Hthe companies you
do business with aren't looking for new ways to help your
credit union attract and expand members' business, exactly
where are they looking?
Solutions.
It's what you'd expect f1'om a business pa1'tne1: The 1'ight strategy. Right when you need it.
Credit ·union Insurance Services
Brovght to yov by CUMIS ond The Co-operators
THEME
Dinosaurs stomp about credit union-land
Richmond Savings' Hzunungous Bank ads earn awards,
pump-up profit -
and draw flak
hy Thomas Gies
Ripping apart B.C.
credit union
advertising
conventions,
Richmond Savings'
Doug Billingsley (left)
andBrent
Cuthbertson explain
that the Humungous
Bank platform is only
part of an overall
image campaign•
•
he intensity of B. C. financial
institution advertising - the
traditional bailiwic k of the
bland - has spiralled up several n otch es recently. And the
campaign that's set most tongues
wagging belongs to a credit union parodying a monolithic
bank.
But Richmond Savings'
cheeky Humwrgous Danie platform is fur more than mere advertising that sticks
it to the banks. "This is only one component of an
image-building strategy that defines the culture of
om· organization," says the credit union's VP of
financial services, Doug Billingsley. "We've created a sales and service organization that's reflected in our advertising."
Marketing director Brent Cuthbertson
agrees that the We i·e not a banlc. 11'/e 're hette1:
campaign is an "integt·atecl" element of the
6• JANUARY/FEBRUARY1997 •ENTERPRISE
cr edit union's unicrue market positioning. He
points out that su ch an aggressive advertising
campaign would be a disaster if Richmond Savings couldn' t beat the competition on service.
Billingsley goes another step: "It's a marketshare, custome1·-service business. In order for
us to gain business, we have to take it from someone else." Why not address -and tap into-the
significant consumer clissatisfaction with banks?
The genesis of the current ca mpaign d a tes
h ack to 1992, shortly after Billingsley, and then
Cuthbertson, joined the operation. They considered various g1·owth strategies and were fascinated with r esearch suggesting about 15 to 20
percent of bank custome1·s are habitually dissatisfied with their cmTent bank. But for the most
part, these customers stick around until a particular incident with poor service or l ack ofl·esp ect prompts them to make a move. And when
Continued on page 8
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HUMUNGOUS BANH:*
J'cmr money is onr moneJ~
Watch it grow:
Richmond Savings'
assets rose 30 percent
in 1995.
•
Hmmmgous , continued from page 6
they do jump institu tions, acco rding to
Billingsley, they u su ally h ave three or four sp ecific options in mind.
A key Richmond Savings obje ctive was to
make this short list, while at the same time encouraging more of the target group to switch .
Major p r oblem : back in 1992, the creclit union's
awareness hover ed down at three p er cent.
Billingsley r ecalls that the advertising was generally product ol'iented and " pretty b oring and
stale."
Soon , branch, sales and marketing op erations wer e mer ged into one clivision and the cultura l shift was on. The change in brnnch
managers was a staggering 100 p ercent. Staff
with strong sales foundations wer e recruited. Fin an cial advisors were given more 1·esponsibility
"and compensa te d a ccordingly. " Richmond
Savings' r elationship banking was proving
popular.
The We 're not a bank. We 'r e bette1: campaign started on buses and in the print media .
B anks were portrayed a s dinosaurs on their
b ack s. As the boa rd and senior management
pored over the business plan, they agreed to
ptunp up the annual advertising budget; it's more
than quadrupled since 1992 to over $1 million.
The marketing team looked at the high cost of
television and considered its diluted reach fur
out of Richmond Savings' market. Instead, it decided in 1995 to ignore conventional marketing
savvy and add a major radio component to the
campaign, at a time when most financial institutions were backing away fr om this medium.
There was one proviso, however: the ads must
have impact, they must stand out from the clutter and make a strong statement.
The ad agency, Palmer Jarvis, was excited
with the new manda te . Chris Staples and others
from the agency sat down with the credit union's m ark eting t eam a nd the mythical
Humu11gous Bank was born, wher e your money
is our money. When the ads saturated the r adio
waves, there was an initial stunned silence .
Then the laughter and the kudos started. P eople
noticed. But a few complaints also came in. Not
m a ny from customer s, or m ember s, or, ini-
DELTA PREFERS HIGH ROAD
eidi Parks, senior VP of marketing & communications at Delta Credit Union, believes in advertising moderation. She's a big supporter of the province-wide "nature" campaign, which she characterizes as "assertive, with some edge to it." This campaign, she believes, works much better than the
previous "interviewer" campaign. "Now, we're p ushing the right buttons."
However, the Richmond Savings Humungous Bank platform, Parks says, has "crossed the line, it's
overly aggressive. As I read recently, its campaign is 'pounding the buttons.' This is a dangerous
strategy because in our dealings with banks, we're dancing with an elephant. If they decide to go to war
with credit unions, we simply can't win." It's well known, she adds, that the banks have been making
reports on credit unions. If they decide to embark on a large-scale predatory pricing strategy, credit
unions could be left in a very difficult position .
While most Delta Credit Union advertising is product-driven, Parks hopes to launch some image advertising in the near future that would "focus positively on our strengths, our history of community involvem ent, our responsiveness to member needs." She's also in favour of a widespread public relations
campaign for individual credit unions, complemented with a system-wide strategy. "Word-of-mouth and
community media are cost-effec9ve' ways to get the message out that we're committed to the community. The public knows that thi~ is different from a bank's head office issuing a large cheque to a project
and then buying advertising to let everyone know."
H
8• JANUARY/FEBRUARY1997 •ENTERPRISE
B.C. chapte r of th e American Marketing
tially, bankers. The serious complaints, the
heat-seeking missiles, were fired by several
Association.
Rather than bac king off, the platform r eB.C. c1·eclit muons!
Billingsley relates that the complaining leased in mid-January 1997 upp ed the ante
once more (see cen trespread.) One ad pokes
credit muons feared that the c ampaign would
fun a t a banking cliche: "We
"wake up the sleeping giant. "
built this bank one scl'vice
His answer was tha t the banks
Richmond Savings'
charge at a time . " Anoth e r
are fully awa r e of B.C. credit
tha nks the hank for making i·cunion s a nd ha ve targeted
market awarnness is up
tiremcnt dreams come true; the
many of our successful niches,
ca tch is that the grateful ch arsuch as residentia l mo1·tgages,
to 17 percent from 3
ac ter i s the ban k's CEO. A
i·cgardless of Richmond Savthird claims: " Ma xi mum r e ings' camp a ign. " The dino percent in 1992 and
saur is awake and walking in
turn on investments. It's what
your h ack yard," Billingsley
we expect from our custom30,000 new members
and CEO Kirk Lawrie told the
ers." Next up for Humungous
have signed-up since
callers.
Bank is a website.
S to mp ing is more like it.
Meanwhile, the provincethe onset of the
wicle campaign has adopted a litWhen the radio ads st ar ted
tle more "edge" r ecently (see
h o wling thro ugh the Lower
Humungous Bank
Mainland , the national office of
page 3). Tracking res ults are
trending in the right di1·ection.
the Canadian Bankers Associacampaign.
Asked if the dynanute results of
tion started reacting. The CBA
Richmond Savings' strategy insuggested the ads were demeanfluenced the system 's campaign, Cuthhertsoning lo bank employees. "Nonsen se," rnspondcd
who sits on the sys tem 's communications comBillingsley, pointing out that the ads attack the
bm·caucratic, di sta nt structure of Canadian
mittee - just shrugs and flashes a somewhat
banks. " Instead of worrying about a Richmond
humungous smile. a
Savings' ud , they should
be concentrating on impro ving their cu stomc1·
servi ce. We h ear stories
all the thiie about bank
customers who eat their
lunch ii1 line-ups. T h a t 's
totally unacceptable. The
consumer will b e the winn e1· in a cam p a ign like
this. Wc ' 1·c rai sing the
ser vice benchmark."
A s ure winner is
Richmond Savings.
Awareness has grown
dramatically from it s
previous puny points to
about 17 pe1·ccnt, e qu a l
Helplng credit unions to
to the banks. More than
change the way they operate.
3 0,000 n ew members
have signed- up with the
cr edit union during the
campaign and the Richmond Savin gs' assets
rose a whopping 30 percent in 1995, high est in
the B.C. credit union
Complete hardware solution provider.
syst em. Many "secondOffices in Edmonton, Calgary and
a r y" members have b een
Vancouver. For more information
converted to "primary."
Personal
contact us at (604) 273-4408 local 101
MICROSOFT
Computer
Assets h ave climbed t o
\\'\/\'()(J,~Nf. . ._ _ _ _
COMfl\TIBl.E
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the $2 billion .range.
And Ri chmond Savin gs
minimum 2 year warranty
was name d Marketer of
the Yea1· in 1996 b y the
SUPRA
p
ENTERPRISE • JANUARY/FEBRUARY 1997 • 9
THEME
Advertising success
Temn bztilding works for veteran marketing whiz
by Thomas Gies
Seasoned marketer
Wayne McKay:
complete honesty is
the only way.
•
GM Ole Sorensen: Face
Value strategy helped
to more than double
the asset base.
•
any credit union players staff, managers and directors
alike - are often "too modest"
about their operation's accomplishments. While this low-key
approach may be comfortable
for som e, it ca n impair the
credit union's bottom line, says
long-time credit union mark eter Wayne McKay. "When
credit unions maintain a low
profile," he adds, " that can generate other misconceptions, such as who can join and what services are available."
McKay worked with Vancouve1· City Savings for more than 25 years il1 several senior
executive positions, including mal'lceting. In
1991 he left to form a company, now known as
McKay Lenarduzzi Marketing (e- mail:
[email protected]), which has worked
with about 30 B .C. cre<lit unions.
Advertising was a major compon ent of one of
McKay's favourite projects: the turnaround at
Prince George Savings Credit Union. It was a
brutal situation, he recalls, when he was contracted in 1993. "The previous yea1-, the top tln·ee
executives had been let go. One wentto jail. Staff
morale was low, awareness of the credit union was
minimal- and most of that awareness was negative!" Still, the board had hired a first-rate manager- Ole Sorensen - and the staff was eager to
turn the credit union's fortunes around.
McKay and team use a simple formula: audit,
plan, implement and monitor. At Prince George,
they started by talking for a week wit11 staff, directors, members, non-members, even the local meclia. Both formal focus groups and casual
" walkabouts with :interview sh eet s" were used.
The research confil'lned the cr edit union's poor
image. Some r esidents believed it was a closed
shop for teachers, other thought it was only for
farmers. Few knew about Prince George Savil1gs'
substantial community contributions.
So McKay devised a "Face Value" strategy
that featured newspaper a ds with photos of key
credit union players, including local GM
Sorensen and Cenh·al CEO Wayne Nygl'en, discussing credit union traditions and security,
alongside product advertising. Other ads were
10 • JANUARY/FEBRUARY 1997 •ENTERPRISE
"team" photos with staffers, which sent the message that while some employees had left tbe operation, most remained. These large, 4uarter-page
ads always ran on page three of the town's daily
newspaper. After one change, the tag line Your
!tome town team accompanied most credit union
promotional materials.
McKay also operates as a " media buyer" for
Prince George Savings. "Not only can someone
with buying experien ce save you money, they
get the h est possible placement,"he says. This is
just one more element in promotillg and reinforcing a professional image. McKay Lenarduzzi
also designed a new corporate identity for the
credit tmion.
Prince George Savings' makeover included a
revamping ofits sponsorships . Major donations
to a hospital and sports facilities were granted with
the credit tmion name and logo prominently displayed. Local media provided ample coverage.
At the same time, Sorensen and other managers
and dfrectors have taken leadership positions
with comm1mity and se1·vice organizations. Municipal business has been secured; the city had
previously done very little business with the
credit union.
Now, Prince George Savings is a B.C. credit
union success story. Assets grew from $56 tnill:ion
at year-end 1992 to $117 million at year-end
1996. Monitoring continues and McKay's company is currently madceting a new branch openil1g slated for later this year.
A stmight-shooter and a sports junkie (yes,
partner Dan Lenarduzziis from B.C. 's premier
soccer family) , Wayne McKay sees many analogies between s1JOrts and business, particularly
credit tmions. "The manager and the chairperson
have to be team leaders, they have to he there for
the staff. They h ave to believe the vision and he
willing to work to achieve it."
Is there a downside to marketing? McKay
pauses for a moment and then nods. " When we do
marketing audits, we r eport honestly on everything we observe, including conflicts in the reporting structure. Some clients are upset and don' t
hire us to do any more work. We're diplomatic
when it's appropriate but with madceting- and
particularly advertising- the best approach, the
only approach , is complete honesty." o
At
Top Insurance Services we've
fom1d that providing protection to qur
comn1unity is inore than just offering
quality insurance- it's caring for that
community, and helping families when
times are tough. Top is proud to provide
support through projects like these:
• Richmond Caring Place
• VanCity Place for Youth
• SlUTey Foundation
• B.C. Children's Hospital
• Adopt-a-Family
• Prince George Rotary Hospice House
• Camp Rainbow
• Alzheimer's SocietyofB.C.
• Oliver RCMP
• Vancouver Food Bartle
• Canadian Cancer Society
Protection that goes beyond premium.
To:r Insurance Services
4585 Canada Way • Suite 303
Burnaby • British Columbia • V5G 4L6
(800) 663-2785
THEME
Marketing 1Dagic
Mining credit union databases with MCIFs
•
hy David Morton
arketing Customer Information
Files (MCIF), marketers will
tell you, arc fast becoming the
essential tool for credit unions
and other financial institutions
as they enter the increasingly
competitive marketpla ce for
banking business.
MCIFs (pronounced 'emkifs' Ly some) are robust PCbasc tl software applications
that work on complex database systems like
those of any financial institution. They're clescribecl in glowing terms such a s " magic" and
"extremely powerful" by marketers like David
Wozencroft oflslancl Savings Credit Union and
Dana Dekker of IWA + Collllllunity Credit
Union.
And w11ile others in the credit union system ,
like Sue Gonneau of Sw·l'Cy Meti·o Savings,
concur with these accolades, many are cautious
about implementing them. The most powerful
MCIF programs are expensive and they require
clcdicaterl, trained staff to manage them. Despite
their powc1-, it still takes time, patience and
marketing know-how - and a bit of technological expertise - to unearth the kind of information you want.
The nrni,ric they perform is making sen se of
the vast array of data on the credit union 's computer system. MCIFs mine the databanks of
member information files, trnnsactions, product use and a host of othe1· areas. They tlig, filter and leach this raw material and emerge with
valuable nuggets of insight on everything from
how members u se th~ c1·edit union, what prod12• JANUARYIFEBRUARY1997• ENTERPRISE
uct areas are weak, what services can be made
more profitable ... even providing the focus for
a direct mail campaign.
"Essentially, MCIFs allow you to get a
clearer understanding of who your members or
customers are and how they interact with the
credit union," says Gonneau, assistant manager
for tlatabase marketing at Stll'rey Metro Savings. " You can u se that information in developing marketing strategies and to improve overall
profitability."
By analysing transactional data, she says,
MCIFs can detel'll1ine how membc1·s use credit
union services on a household basis, what products they use, how often they use ATMs and what
service charges they pay. The information can
isolate "profitable" and "less profitable" members and even point the way to optimize their
use of credit union products and services.
Last year, fo1· example, SMS's marketing
team noticed it ha cl an abundance of members
with short-term deposits. At the same time, there
was a shortage of funds in member share accounts that, in fact, offered a b etter rate of interest than the terms.
While the b etter i·ate was a good incentive
fot· members to move their funds into share accounts, the credit union used its MCIF system
to further identify the membe rs most likely to
take advantage of the deal. A targeted mailing
to those customers resulted in a highly successful 33 percent response i·ate. According to
Gonnean, a 10 percent response would have
been considered successful.
I sla nd Savings Credit Union embarked on a
campaign this year to attract more RRSP loans
by offering pre-approved l oan packages to
members. With the h elp ofits MCIF system,
marketing manage1· D avid Wozencroft was
able to pull a list of membc1·s with RRSPs ancl
further segment the group into categories that
qua lified for loans of $5,000, $10,000 and
$15,000. Letters were sen t to these members
saying that they hacl b een " pre-approved"
for specific loan amounts.
Well into the RRSP season , Wozenc1·oft
said the campaign was seeing a good response
rate, though it was too early to determine fin al numbers.
" MCIFs can be u sed at much more sophisticated levels, particularly when you profile members at the h ousehold level or add
information from third-party data s uppliers, su ch as S tatsca n 01· Taxfiler," says
\Voze ncroft , who a l so implemented a n
MCIF system at Fit-st H e ritage Savings
Credit Union prior to joining Island Savings . "You can see that Joe Smith is a good
customer, but 11is wife Mary is also, although
th ey use differe n t products and services.
You can u se this information when you 're
d esigning new products, but you can also
append it to member information scr eens,
where the front line staff deal directly with
the customer. If they're interested in investments, you can tell them about mutual fm1ds,
for exa mple. Or if you see they conduct a
lot of over-the-counter transactions a t their
branch , well, thern's no point in trying to sell
them on ATMs."
POWERFUL, FLEXIBLE
Ma d ceters have b een using available data
in this way since the introduction of cmnputer s . But with recent strides in the computing
powe1· of PC-based systems, MCIFs have really come into their own , acco1·ding to Bill
Hagge rty of Orlando- based Harland
Financial Marketing Se1·vices, manufactm·e1·
of MAX$ELL, one of the leading MCIF systems.
"Prior to MCIFs, marketing people were
able to cobble togeth e1· hits of information
that wer e of some help, but there was a large
component of guess work," Haggerty says.
" It was also very time-consuming and
once you go t yom· information , you 'd often
see something that n eeded clarification or
you 'd require more information in order to
really use the data. Today's MCIFs are much
more powerful and flexible."
Harland's MAX$ELL, currently u sed b y
Kootenay Savings Credit Union, and the
Cus tome r Insights system , u sed by both
Su 1Tey Metro Savings and Island Savings
credit unions, are the two major s upplier s
ofMCIF packages. They're not cheap; they
range in price from $20,000 to $60,000 depending on the number of accounts and the
desired level of reporting sophistication .
Databasics , a Vancouver database marketing firm , works with cr edit unio ns running MCIF systems to refine their r eports
and h elps d evel op marke ting strategies
based on the d ata .
On a smaller scale, IWA + Community
Credit Union is using a n "off-the-shelf'' database package called C1·ystal R eports,
which has h een cus tomized to p erform a
number of analyses on credit uni on d ata.
Madccting manage1· Dana Dekker says the
reports a1·e minimal compared to the cap ahilities of the other more powerful systems,
but it is allowing his credit union to make
some preliminary steps toward s a r ela tion shi p pricing system.
" We hope to b e moving to a full-fledged
MCIF system very soon ," says Dekker. "The
C1·ystal R eports p ackage has allowed u s to
get up to speed and it's given u s a surface
glimpse into om· member base. We n ow need
to go further.
"They' r e incredibly powerful tools not
only for the marketing professional, but fo1·
credit union management in general. "
Dekker allud es lo the n eed for a significant commitment to MCIFs - a side from the
expense - when they arc brough t into a
credit union's operations. He, along wi th
other s, suggest they r equire atleast one dedicated staff member with technical expe1·tise
as well as marketin g knowledge.
Surrey's Sue Go nneau con curs.
" We're runnin g a fairly sophisticated
MCIF system and we will b e upgrading to an
even more p owerful on e ver y soon," sh e
says. "At the moment, ther e is myself and one
h alf-time p erson devoted to MCIF.
"You really need someone with a strong
technical knowledge as well as the muketing skills in order to work out the hugs and
make sure the d atabase is accur ate and complete," add s Gonnea u , who comes from a
compute r h ackground .
Island Savings' David Wozencroft says
t ec hnical know-how i s important , h ut
stresses that marketing cxpc1·tise is the most
important factor in cleclicated MCIF p ersonnel. Like Gonneau, he sha r es one other halftime employee to run MCIF reports, which
are often s upplemented with further analysis b y Databasics.
" It is first and fo1·emost a marketing tool
that is capable of p edorn1ing ma gic with
c1·cdit union data," says Wozencroft.
"I'm not a ' tee hie', I'm a marketer. I like
to use all the tools I can to ply my craft and
MCIF is an ideal tool to make the credit union more effi cient and p1·ofitable. "
D avid J11o r ton is a Tr/est Vancou verbasedji·eelauce writer and a former editor
ofEntetprise.
a
b
ADVERTISERS
INDEX
q
t?
a b
ABM SALES & SUPPORT'
page 27
a b
CENTRAL Foru1s SUPPLY,
page 17
a b
CDSL CANADA LThnTEo,
inside b ack cover
a
b
THE Co-OPERATORS
CDCL PROPERTY MANAGE~IENT
Lmrmn, page 19
a b
CnEDJT UNION INSTITUTE OF
CANADA, page 23
a b
CREDIT UNION INSURANCE
SERVICES,
page 5
a b
CnEmToR REsouncEs lNc.,
page 11
a b
CUE DATA\VEST LI,\UTED,
inside front cover
a b
CusTO~t CHEQUES OF CANADA,
outside back cover
a b
NCL REAL ESTATE
MANAGEMENT LTD.' page 25
a b
P. D. KELLER & Assoc1ATEs
LTD. , page 21
a b
SOCIETY OF NOTARIES PUBLIC,
page 7
a b
SUPHA COMPUTEHS LTD.'
page 9
a b
WESTCO SAFE &
VAm:r Lmrrno, page 21
a b
MERCEDES WONG REMAX
CREST REALTY, page 28
q
l?
ENTERPRISE• JANUARY/ FEBRUARY 1997 • 13
THEME
Standing
out front
the clutter
Metroman cleans up
. C . credit unions, emholdene cl this
decade with unprecedented market
s uccess, are sending more confident
advertising m essages. Creative no
longer m er el y tries to position credit
unions as crndihle, secure altern atives to
the competition; now some of it jumps out, gr abs
its target audience and demands attention. T his
collage, of course, is only a smattering of what 's
out there . But it gr aphically illustra tes that B.C.
credit unions are feeling mature enough to take some
inventive chances.
The Metroman campaign at Surrey Metro Savings,
for example, grew out of a 1997 RRSP campaign brainstorming session among three players in the madrnting
department: Linda Cek al , Tony Deise and marketing manager
Lawrie Ferguson. Cekal notes in the Metrotimes staff newslette1·:
"We were not going to get people excited ab out a rate story... we
needed a breakthrough concept, something that custome1·s ancl noncustomers have never seen."
The idea of a super hero came up and, in short order, Metroman
was saving investor s in distress. Now, his cartoon face entices business throughout the credit union's market area. Ferguson says tha t
with the·Metroman concept, "The nmnher of scenarios ar e endless
b ecause we can create all sorts of ideas about loans, deposit products, and whether cu stomers should get into an RRSP. " As for costeffectiveness, D ei se s u ggests, "Wh en you don ' t h ave a large
ad vertising budget , the graphic elements of your visual material
really have to stand out strongly. "
Metroman, it appears, is strongly swee1:ling some of the clutter
into the gutter .
14• JANUARY/FEBRUARY1997 •ENTERPRISE
OUR NEW
BRANCH
HAS MORE
~~,,-.4~ VARIETY.
ax1mum return on
investment. It's what
we expect from our
customers.
r.oo=~~~=!!....~~~~~=
Thanks to my bank
all my retirement
dreams came true.
HUMUNGOUS BllNIC*
Hmr muncy is our monr):
ENTERPRISE • JANUARY/FEBRUARY 1997 • 15
ROOTS
Rooted in farining
F am,ilies pl'om,inent i1t f onncttion of N01·thline credit union
by Clarence Morin
Ray Oulton served for
25 years as president
of Bulkley Valley
Credit Union. He's
pictured here in 1983.
•
apidly
approaching
$90 million in
assets,
Bulkley
Valley Credit
Uniouis a
force in its
northern
interior
tmding area.
But the Smithers-based
operation - which recently
opened a branch in Hazelton
- traces its roots hack to a
modest group of farmers in
the Dirty Thirties.
Credit was an ongoing
concern fo1· the valley group,
;ls it was fo1· other farmers of
that era. It was difficult to set
a side money for seasonal
expenses such as seed, baling
16 • JANUARY/FEBRUARY 19'ifl •ENTERPRISE
wire and binder twine - and
the only bank in the area had
no interest in lending money
for such necessities.
So, in 1939 a group of
farmers under the leadership
of Ray Oulton obtained a
home-study course on credit
mrions from the University of
British Columbia 's extension
d epartment. They studied
diligently tln·oughout the
winter of 1939-1940 Lut
h adn't completed the com·se
by the spring, so they suspended the project until the
fall so they could tend to thcfr
crops. By the spring of 1941,
t11ey finished the course and
applied for incorporation.
Although telephones and
rural electricity wc1·c i·are at
the time, this band of pioneer s
managed to attract several
residents to a meeting at a
local school. Fourteen people
pooled some money and
signed an application for
incorporation. They elected a
board of clirectors, a credit
committee and a supervisory
committee. Soon, the credit
union was g1·anted charter
munber 50. Oulton was
elected president and held the
position for 25 years. Florence Oulton, Ray's wife,
served as volunteer treasurer
and manager. Al1d the Oulton
farm kitchen became the de
fi1cto credit union meeting
hall, according to their
daughter, Helen Bruhjell.
Meanwhile, Conrad
Tugnum had enrigratecl to the
area in 1936 from St. Moritz,
Switzerland, where his family
had hotel and agricultural
holdings . He purchased a
farm in the Smithers area and
when the discussions started
on co-operative banking,
Tugnum was an eager p articipant. He was familiar with the
con cept in his native land. In
1942, Tugnmn was appointed
treasurer of the credit union.
He also enrolled his
children a s members; his son,
Hans, still has his original
passbook from May, 1942 .
Hans recalls meetings where
members - dedicated to the
new ideal - anived on foot
from distant farms. Conrad
Tugnum was cited in 1950 at the age of 75 - as one of
the oldest c1·cdit union
treasurers in the province.
When Conrad r etired from
the board in 1958, Hans was
elected us u director.
As with many B .C. credit
unions in the early year s,
Bulkley Valley records were
kept in a cardboard box.
Members would often drop by
the Oulton kitchen to make
deposits and loan payments,
fill o ut loa n applications and
sign up thefr children as
member s. It was a simple
open1tion with one type of
savings account and limited
p ersonal loans , which wer e
approved by the cr edit
committee. All work was
p erformed by volunteers.
As the years went by, roads
improved, more members
b ought motor vehicles and
t own sfolk wanted to join. So
in 1961, the credit union
moved to town and set up an
office. It was still a tiny
ope1·ution , with about
$115,000 in assets. Many
membe1·s set up "sub-offices"
fo1· signing up n ew membc1·s,
filing loan application s and
making dep osits and loan
payments. The asset base
included about $35,000 in
"endowment loans ," which
we1·c a kind of compulso1·y
savings plan tha t provided the
borrower wi th a type of life
insurance equal to his or her
savings and the a mount of the
outstanding endowment loan.
Mortgages were offered in
1962 to the 259 adult members (there were also 60
junior member s.)
A wate1·shed year for
Bulldey Valley Credit Union
was 1972. Not only did
membership hit the 1,000
mark, hut assets climbed
above $1 million, a whopping
130 percent incr ease from the
previous year! (This was also
a good year for the B.C.
credit union system as a ssets
climbed by a more modest 45
p e1·ccnt and member ship by
16 pe1·cent.)
R ay Oulton passed away
in 1985 a nd Hans Tugnum
stepped down from the
board in 1996. But Bulkley
Valley Credit Union 's
current membership rolls -
more th an 7 ,000 and
growing r api dly, a ssisted by
the new branc h in the
Hazeltons' are a - include
many of these pioneer
member s' offspring. a
Staff posing at Bulkley
Valley's new
Hazeltons' branch in
late 1996 are (left to
right) Marilyn Laursen,
Tamara Desjardins,
Eric Johnstone and
Supplies
• Carbo n & NCR snapsets and booked
forms.
continuous single and multi-part
• Contin ous cheques.
• Kleen-edge continuous letterheads &
envelofes.
• Stock co ntinuous forms imprinted.
branch manager
Lucien Senecal.
•
Mem er Contact
[
•
•
•
•
•
Newslette rs
Letterhead & envelopes
Annual reports
Pamphlets & brochures
Folders & flye rs
Service kits
Public Relations
• Pens, pencils, rulers.
• Key rings, balloons, coffee mugs.
• Folders, wallets, binders - almost
anything - imprinted with your credit
union's name and message.
ENTERPRISE• JANUARY/FEBRUARY 1997 • 17
DIRECTOR'S CHAIR
Consu1ned with co1n1nunity
But Belgian w<ifftes over advertising
by Thomas Gies
branch at the university. So
when he took his first teaching
position in Victoria in 1979,
Adams quicldy joined a tiny
bra nch of Saanich P eninsula
Savings Credit Union, which
eventually became part of
Pacific Coast Savings. Soon,
the call of the wild lured
Adams to a job at 100 Mile
House and he made arrangements to transfer all of his accotmts to the local branch of
Williams Lake and District
Credit Union.
Williams Lake and
District Credit Union
director Patrick
Adams drives the
distance to serve his
community.
•
DIRECTOR
ike many of
his generation, Patrick
Adams set off
to see the
world in 1973.
With no se t
itinerary, the
young Belgian
- barely out
of his teens crossed Canada from east to
west on a motorcycle. When
his adventure took him to
British Columbia, the cogs
18•JANUARY/FEBRUARY1997 •ENTERPRISE
started to turn. Eventually,
Adams returned to Europe.
But when it came time to pursue his studies, he couldn't
shake the vision of Simon
Fraser University, sitting high
on a mountain top, peering
over city and wilderness.
Adams returned to B. C.
and earned a linguistics degree
and a teaching ce1·tificate at
SFU. A co-operative kind of
guy, he was excited to learn
about B.C. credit unions but
disappointed that none had a
Ente1pl'ise: Were you familiar with the credit union
concept in Belgium?
Adams: Not really. But my
parents were members of a
savil1gs and retirement bank
for government employees
that was run like a co-op. And
I've always been interested
in community grassroots
groups.
Ente1p1·ise: Aside from the
credit union, have you been
involved in others in i·ecent
years?
Adams: When I moved to
100 Mile House, I joined a
nuclear disarmament coalition and a community co-op
formed to create micro-enterprises. Then, when one of
the two credit union directors from 100 Mile House
died in 1985, I joined the
Williams Lake and District
board.
Ente1·p,.ise: What were
your first impressions?
Adams: I was quite ove1·whclmcd. And because it's a
230 km i·ound-trip from my
home to the credit union head
office, I couldn' t get too involved on committees. More
recently, I co mpleted my
CUDA courses and hav e
helped out with the nomination and audit committees.
I'm totally in s upport of
alliances - and even amalgamations - as long as there is
a r eason for it. I b elieve the
decision to go with Rapport
remote banking was correct.
Technologically, we have to
keep pace with the banks in
01·der to best serve our members.
Ente 111rise: What iss u es
has the credit union faced in
recent years?
Adams: Constant growth.
Throughout the 1990s, we 've
reached or exceeded at least
10 p erce nt growth in assets
each ye a1-, sometimes 20 p e rcent. (Williams Lake and District is closing in on the
$80-million made.) It seems
that we' re always renovating
ancl enlarging one of ou1·
branches.
It' s paradoxical in some
ways. Out· members have
really taken to telephone
banking and our four ATMs .
But at the same time, they
enjoy the social interaction of dealing with
a p e r so n. And we'1·e
committed to keeping
line -ups small .
Enterprise: What's yom·
opinion of the province-wide
advertising?
Adams: The members I've
talked to seem pleased with
the TV exposm·e. On one
hand , if we need greater volume s to survive the technology challenges, thi s
advertising will b e the catalyst. We need new members
and we also need to get more
members to do all their business with the credit union ,
rathe1· than taking some of it
to the bank.
On the othe r hand , I'm
concerned that advertising
could be part of a strategy to
Enterprise: Any
t a lk of mer ge r s or
s trategi c a lliances in
your section of the
Northlinc?
Adams: We're looking at this iss u e with
B e lla Coola Valley.
And some people think
Quesnel and Dis tl'ict
would be a natural fit.
The biggest challenges
a re the c ultur a l fits
an cl the gr ca t distances; it t akes five or
six hours to drive to
Bella Coola from
Williams Lake - and
that's in good weather!
Still, this could b e the
year that merger s and
alliances really snowball. I've notice d that
th e Central m ee tings
see m mo1· e co- operative lately and l ess territorial.
turn us into some thing very
sintilar to banks. What would
be the point? Being big and
powerful has no attraction to
me. Our reason for existing is
to serve the memhe1·s; whether
that m eans short line-ups ,
small service charges , hi-tech
convenience, 01· a strong i·ole
in the connn1mity. Our mission
statement notes that we're
" d edicated to the improve ment and growth of the financial and social well-being" of
both the membershi p and the
community.
Ente11nise: What's the reward of driving great distances to serve on a credit
union hoard?
Adams: The syn ergy of a
common goal of giving people
a real non-bank alternative.
And I'm pleased to see the
banks improve thei1· service
to our community. Credit unions have helped raise the
standards for the entfre banking industry. a
Professional Asset
Management Services
08 the co-opetatoIS
n.0 CO-OPERATORS
"~~
CDCL Property
Management Limited
T.J
DEVELOP:MENT
CORPORATION
LIMITED
300-1001 West Broadway • Vancouver, B.C. V6H 4B1
ENTERPRISE • JANUARY/FEBRUARY 1997 • 19
MANAGEMENT PERSPECTIVES
Reality check
Reflections on a co-operative youth exclumge
by Jolm Julian
Youth Exchange
participants prepare
to embark on their
Canadian adventure.
From left to right are
Pedro Infante, Martha
Munoz, Maritza
Florez, Kimberley
Rempel (CCA),
Alejandro Carvajal,
Liliana Ballesteros,
Mauricio Angel,
Piedad Monsalve and
Viviana Estrada.
•
y its ve1·y n ature, travel tends
to br eak d o wn bar rier s.
Through travel we see th e
world - and ourselves - differently. We ar e tested by n ew
and often diffi cult exp e riences, and with luck we come
out stronger and more secure .
Dm-ing the swnn1er of 1996,
co-ops and credit unions across
Canada hos te d eight young
Colombians between the ages of 21and 25. Tl1e
exchange was sponsor ed by the Ca nadian Cooperative Association and FundEquidad of
Colombia.
J<~ or the Colombian participants, the adventure was a d1·nmatic life exp e d cnce. Yet it also
left its mark on the Can adians who were involved.
Aside from the expec ted p er sonal growth
oppo1·tunities, the exch ange helped the visitors
20 • JANUARY/FEBRUARY1997 •ENTERPRISE
improve their E n glish
- a skill that can ' t h e
und erestima t ed when
much of Latin America
is jogging alo ngside the
NAFTA bandwagon.
Our exchange involved
work placements at coops a ncl credit unions.
But those of u s who
hosted these young p eople also gained from the
experience . We had the
opportunity to learn
more abou t Colombia , a
country a s culturally
ri ch us i t i s beautiful.
Auel we also hacl an opportunity to see our
own country reflect ed
ba ck to u s through
fresh , honest eyes.
Most of u s like to
think of Can adians as
reasonably in tune with
t h e world b eyond our
border s . Alas, the stories that the Colombians brnught b ack from
thefr travels across the country sh ow that we
may not b e as cosmopolitan - or as sensitive
- a s we might like to b elieve . Much of it was
h a rml ess : " D o yo u sp eak Colo mbian?" 0 1·
" Colombia, that's in Mrica, isn' t it?" One p articipant put it this way : " Canadians are indifferent to situations outside their countt·y. I was
amazed that often I had to explain where Colombia is t o people who go to university! "
Unfortmiately, some of the assump tions that
Canadians make about a country like Colombia can hm·t. Casual and frequent r efer ences to
drugs b ecame a sen sitive point for many of the
pal'ticipa nts. They were desp er ate for Canadians to see their count1·y as it is - a troubled
land to be sure, but one with gr eat promise
wher e the majority of the people are honest ,
hard-wod<ing and have nothing to do with the
<lrug trade . The young Colombians expressed
their love of their country in a vocal a nd pas-
sionatc way tha t contras ts dramatically with
a n s boards their p l a n e fo r Col ombi a n ex t
the quiet affection that Can adians h old fo t· our
summet-, we can only hope th a t thefr expericountry.
ences will be a s illumin ating and t heir i·cflecT h ere were o ther poi n ts of cultur al fric- tio n s will b e as c lear and hon est as th cfr
Colo mbian co unterparts. o
tion . Fo r most of the wom en, there was a
se n se t h at Canadi an men assume d t h ey
would be easy sexu al con ques ts. This may
John Julian is tlte Canadian Co-operative
r e flect fa lse ass umptions a b o ut Latin Ameri- Associations director oj'li1stitutio11al relations.
can women on the pa r t of Canadian men,
or it may be a bout b asic cultu ral differences . In ma n y r espects , Colo mbia i s a
m o r e con sc1·va tiv e society tha n Ca n a d a,
a nd p articipa nts may h ave misinterpreted
some of t h e casual attit udes they en coun SARATOGA INSTITUTI~
P.D . KELLER
t ered a mon g young Cana dia ns.
CAN1\0A L TD .
& ASSOCIATES LTD.
F or some, life in Canad a lacks the drama
Professional
Mc111age111c11t
ll11mc111
Resources
Effect iveness,
a nd emotion of life in Colomb ia . In th e
&
Bus
iness
Co11s
11lti11g
Serv
ices
Mc111agcme11t
&
Bc11c/1111m·lling
words of one youn g ma n , " For me , Latin
American people h ave a better qua lity of
• Strategic Planning & Business Plans • Feasibility and Development Studies
life . Maybe we don ' t h ave h omes and cars
• Facilitation and Resourcing
• Corporate Governance and Policy
and peace, hut our lives a r c mor e intense."
• H.R. Benchmarking, Effectiveness and Management Support
Another descr ib ed Canadia ns as living
" in a bubble. (Canadians) know other coun• Executive Search and Placement
tries have serious problems, hut they don ' t
think Ca n ada h as . . . Ca nada is a beautiful
" Professional Service fo r cill your special neecls"
country, bu t other s, with less develop ment,
con tact: P.D. (P1111.) KELLER, PRESIDl>NT
can help it."
One delegate a lso n oted , "Colombian co#209, 1433 Lonsdale Avenue, North Vancouver, B.C. V7M 2H9
ops a1·e closer to th eir member s and th e
Tel: (604) 990-0641
Fax: (604) 990-0643
Res: (604) 985-3699
communi ty. T hey o rganize programs for
k ids, yo un g people,
a dult worker s and senior s all the year . T h ey
wo r k not o nl y for
mon ey. Here, c o-op s
do n' t h ave ac ti vities
with the member s, aside
from the annual meeting and the newsletter."
A no th e t· wa s a maze d
that of 25,000 member s
a t one Can adia n co-op ,
only about 300 show up
for annua l meetings.
The old way
The new way
All in a ll , it was an
in t e n se ex p e r i e n ce
th at r equfred p a tien ce , toler an ce, an d
two mechanical combination
Now one di gital electronic
hard wo rk from all . It
locks and a delayed action
lock with dual custody & time
was also a l ab our of
l ove th a t o ffer e d
key lock
delay features will replace ...
unique compen sa tion s
fo t· the effor t. By the
t ime th e Colombians
h e aded h ome, e veryo n e wa s very tir e d .
Yet th e r e was also a
Call us for other
WESTCO SAFE & VAULT LTD.
p r ofoun d sen se th a t
4407 Juneau Street. Burnaby, B.C. V5C 4C4
variations and features.
somethin g special h ad
Telephone:
(604) 291-1714
happen ed ove r th e
Fax: (604) 29 1- 1756
course of t he summer .
And wh en a group of
eager young Ca n a di -
0
WESTCO
ENTERPRISE • JANUARY/FEBRUARY 1997 • 21
MANAGEMENT PERSPECTIVES
Don't reinvent the wheel
Just drive it down different roads F-A-S-T-E-R
by Rick Kreklcwe tz
ervice industries h ave vastly
for example, do not understand the cost and
improved their operations
pricing of their services. Service delivery may
over the past decade - but
also he a problem for many r easons, such as a
they still fall short of many branch design that doesn't facilitate sales and
other industries. Manufacturservice .
ing, fast food and retail sales
Companies in other industries have rehave made more advancesolved pricing and sales dilemmas; cre<lit unm ents regarding complex isions should carefully examine and adapt
sues such as product costing,
appropriate practices. For example, the fast
inventory controls , environ- food industry offe1·s all sorts of attractivelymental an d safety concerns,
priccd menu combinations, such as McDonald's
and global competition. How can service indus"Full Meal Deal"(see sidebar).
tries such as credit unAs our benefit packions evol ve to high er
ages become more comlevels of excellence? I
p rehen si ve, we add
believe the key success
value to the me1nl)er by
factors are time and inoffering incentives s uch
Package A
novation.
as free chequing or prea Chequing Account
The concept of time
ferred rates on loans and
a Savings Account
r elates to the organizainves tmen ts . The b en a Line of Credit
tion's ability to develop
efits of service packaga Equity Shares
a quality product and
ing would include:
a Member Card
deliver it to the m adrnt
•minimum cross-sell of
Package B
faster than the competifiv e se rvices per n ew
a Chequing Account
tion. Time is the corpomemhc1·
a Savings Account
rate sabre that can slice
• service charges rea Line of Credit
mercilessly into th e
placed with benefit packa Equity Shares
profits of competi to i·s .
ages
a Member Card
One only has to look at
• value added to mema Personal Loan
Microsoft to know the
hers
a Monthly RRSP
effect on market share
• reduction ancl/or elimiand profitability of getnation of unprofitable
Package C
ting to the market first.
accounts
a Package Account
Innovation is al so vital
• systematic apprnach to
a T-Bill Savings
to success. The product
e nable staff to sell the
a Line of Credit
must b e of the highestcr edit union's services.
a
Equity Shares
possible quality to satThis is an application
a Member Card
isfy customer demand.
of a simple concept used
a Mutual Funds
How can credit un in the fast food industry.
a
Mortgage
ions b ecome more inno\Vhen we benchmark an
a Llfe/Disability Insurance
va tive and time e ffiidea, innovate the proc(Optional)
cient'! The answer lies
ess, apply it to our indusin th e process called
try, and introduce it to
the ma rket , it becomes our henehm adc
b enchmarking. This involves the examination
and adaptation of competitive practices from
Why is it so crucial t o implement
other orga n izations that are d eemed to he
benchmarking to improve time efficiencies and
"leaders in the industry." Many cr edit unions,
expedite innovation? Cr e dit Union Central of
CREDIT UNION MENU
Rick Kreklewetz,
Okanagan Savings'
manager of finance,
believes that
benchmarking is the
key to an innovative
and efficient
operation.
•
22 •JANUARY/FEBRUARY 1997 •ENTERPRISE
B.C. recen tly circ u lated a p ackage titled
Royal Bank ... Can't
Take it Anymor e. The
article and the a ttached
Royal Bank publication
foc u sed on the bank's
co mpetiti ve position
r egarding B. C. cr e cli t
unions. Th e Royal
Bank presented a convincing arugument t o
support their commitment to th e community,
theit- competitive service cha r ges a nd the unfair tax laws they face.
A primary con cern to
me is the Royal Bank's
contention that they can
deliver products and
service s t o customers
faster, as well as provide
innovative alternatives.
The mom ent cr e dit unions lose our tim e and
inn ova tion advantage,
we will become endanger ed species. Banks are
n o lon ger hiera r chial ,
bureaucr atic behemoths.
They have str eamlin ed
their operations and are
ready to challenge credit
u nions a t th e memb er
level.
Credit union s mu st
ens u re th at time and
in n ovation are not only
d e tailed in our stra tegic plan s -these elements must be the very
threads th at bind the
plan. To s ucceed, we
must focus diligently on
th ese i ss u es . R e m emb er: the banks will not
harm what they canno t
catch. And fo r tho se
who b e lieve in th e
theory of evolution , it's
known that no t only the
s trong a nd powerful
survive; so do the swift
and resourceful. a
R icli Kreklewetz is
manager offinance at
Okanagan Savings
Credit Union and a
member of tlie Society
of Man agement Accountants.
FOREST RENEWAL BC
BURSARIES AVAILABLE
T
he p a rtne1·ship between the B .C.
credit union srstem _and Fo1~est
Renewal BC ts aga in offermg
bursa ries to students in forestry-related studies. In 1996, 40
B. C. credit unions p1·esented 76 bnrsa1·y
cheques to stude nts in their madcet areas. The awards- $500 and $1,000 are provided by Forest Renewal BC.
Information packages with counter card h olders, posters and brochm·es
have been sent to all B.C. credit unions.
Newspaper ads are also available and
participating credit unions are encotu·aged to publicize the prog1·am in their
member newsletters.
Submissions sh ould be faxed to
Frederica Bowden at (250) 595-0185 or
by e-mail to fbowden@isla ndnet.com.
More d etails are available from Central 's program liaison, Liessi Hanssler ,
at tel. (604) 737-5907.
N N 0
CUIC
CREDIT
U
N
I
0
N
INSTITUTE
OF CANADA
OUR BUSINESS IS
CHANGING. SELLING
l<NOWLEOGE IS l<EY TO
OUR FUTURE. (U/['s
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[
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ENTERPRISE • JANUARY/FEBRUARY 1997 • 23
HAPPENINGS
VanCity spreads green around
V
ancouve1· City Savings' EnviroFund
granted $80,000 to four projects in late
1996. The credit union's VP ofhmnan resources and environment, Karen Currie,
says the fund's essential element is " finding cr eative solutions to the region's pressing en vironmental problems." VanCity ch air Francesca
Zmnpano lauds the winning projects for "improving the ecosystems in our region."
The award winners include a garden in Sardis
with indigenous pla nts of significant cultural and
medicinal value that was planted by the St6:lo
Nation; Farm Folk/City Folk, who are c1·eating a
co-operative , organic commu ni ty garden in
Coquitlam; Douglas College's Institute of Urban
Ecology for re-introducing native plants and wild-
life habitats; and the Steelhea d Society ofB .C .
for its salmon-sustaining projects.
Application details on the 1997 EnviroFtmd
awards - deadline is July 1, 1997 - arn availabl e from VanCity's environmental officer,
Moira Teevan, at 877-7620.
PHOI'OSBYPERRYZAVITZ
St6:1o Nation members (1-r) Teresa Carlson,
Kevin Washbrook and Gwen Point .
•
Douglas College's Sheryl Webster, Marty
Sulek and Sarah Turner (back row) Naomi
Tabata, Val Schaefer and Kirsten Chursinoff
(front row).
•
24 • JANUARYIFEBRUARY1997 •ENTERPRISE
CREDIT UNIONS JOIN CROWING CASH CARD SYSTEM
h e Canadian
cl'cdit union
system joined
the Mondex
smart -ca rd
trial in Guelph,
Ontatio, justas
th e pt·ojec t
prepared fot· a
big expansion
in mid-F ebruary. After stat·tingin September
last year with just 12 1·etail outlets involved, Monclcx ser vice
will now be available through
500 Guelph met·cha n ts. The national roll-out of Moncl cx is
sc heduled for micl-1998 a nd
Canadian credit unio ns may
take part, depending on the results of the Guelph trial.
When Credit Union Ccntt·al
of Canada joined forces with
the Canadian Imperial Bank
of Conm1et·ce, Royal Bank of
CRIGOES
ON-LINE
C
reditor Resources, Inc.,
which provides credit
insurance services to 600
North American credit unions, including several in
British Columbia, has customized an Internet lending
application.
President Mark Olson notes
that the application allows
credit unions that don't have
a website to "gain exposure
to the 10 million host computers now using the
Internet." And if the credit
union has a site, the application "can be modified to
provide a hyperlink between
our site and the credit union's web page."
Future phases of the project
will a llow members to receive quotes on loan rates
and fees and then will integrate the application with
the company's Windowsbased CRiterion system.
Canada and Bell Canada to
participate in the pilot, it beca me the first cr edit union organization in the world to offer
Mond cx as an a lternative to
ordinary cas h . Hongkong
Bank of Canada is also a member of th e Mondex alliance in
Canada, whic h is part of the
Mondex glob a l payment system of m ore th a n 20 maj or
companies a nd financial institutions on fou r continents.
CUCC pt·csidcnt and CEO
Bill Knight says, " We will b e
getting first-hand , practic al
e:irperience in the sma1·t-card
technol og y t h a t drive s
Mondex, while at the same
time sharing our findings with
credit muons across the countt·y." 'l\vo branches of Guelph
and Wellington Credit Union
Limited are participating in
the expande d pilot.
REAL ESTATE
MAN AGEM ENT LTD.
7888
A lderbriclge
0
T h c i·e a re three typ es of
smart cards currently Leing
tested in Canada. Vancouve1•
City Savings is partner ed with
Toronto Dominion, Bank of
Nova Scotia and the Caisse
D esja rdins group in a Visa
Cash tl'ial. Two Canadian
hanks and a trust are involved
in a smart-card te chnology
called Exact. a
a plastic card. Card·holdem can access their accounts through telephones or ATMs. Electronic cash
can be transferred onto the chip
and the card can then be used in
merchant terminals. Mondex also
allows person-to-person payments
using an "electronic wallet."
If/I,,,,.'
...Your
W a)'
ii!'ff:J,\~"i.;txi
building's
financial reports
by the 3rd working
day after month end...
"We Manage ... to make a difference."
DEVEL 0 PM ENT• MAN AGE MEN T • C 0 NS ULT ING
ENTERPRISE• JANUARY/FEBRUARY 1997 • 25
HAPPENINGS
Polish co011nunity celebrates credit
union's 45th anniversary
S
everal hundred member s of Vancouver's Polish C1·edit Union attended a gala celebration February 1 at the Pan Pacific Hotel.
Highlights included traditional Polish entertainment, a dance band,
gourmet dinner and messages of support from the P olish Consul,
Miss Polonia and the chair of the Financial Institutions Commission.
The cr edit union ser ves abou t 1,400 Polish -Canadians in the Lower
Mainland. Growth was particularly strong in 1995 when assets rose 30
p er cent; they n ow stand at more than $4 million.
Gathered above for a photo are (left to right) directors Andrew
Wlodyka and Richard Podgurski, Polish Consul Krzysztof
Czaplicki, Miss Polonia Magdalena Marczak, FICOM chair Stewart
Cunningham and Polish Credit Union manager Jan Eichel.
•
26•JANUARYIFEBRUARY1997 •ENTERPRISE
TRAFFIC-REDUCTION ALLIANCE
Gary Boyer (centre),
II
human resources
consultant with
Revenue Canada,
shows new digital bus
pass to Moira Hauk,
branch manager with
Greater Victoria
Savings, and Chris
Foord, marketing and
public relations
manager with BC
Transit.
•
PHOTO BY RENNIE KLYMYK
u y:ing a bus pass is a whole l ot easier for Victoria-ar ea feder a l government employees, tha nks to a crea tive partnership b etween G1·eate1· Victol'ia Savings
Ct·edit Union, R evenue Canada and BC Transit. The program uses hi- tech digital image bus passes produced by Imagis, a Victori a-b ased firm specializing
in digital image security cai·ds . The p asses can be pur chased through payr oll
deduction by employees wh o ar e member s of the credit union , which purchased
the assets of Victoria F ederal E mployees Credit Union in mid-1995 .
" This t ype of program i·cpresents the c redit union 's community spirit," says
Moira Hauk, Hillside b ranch manager of Greater Victoria Savings. " We personalize service to our member s and in this case we' ve minimized the time and
administration to make this prog1·am work." GM Kim Andres adds that the
c1·edit union has akeady signed-up mor e than 100 n ew member s b ecau se of th e payroll deduction plan.
E squimalt mayor Chris Clement, wh o also chairs the Victoria
Regional Tra n sit Commission,
says the progr am "will b ene fit
We Have Saved B.C . Credit Unions Hundreds ofThousands
many do c k yard e mpl oyees in
of Dollars by Supplying "Like New" Refurbished ATMs
Esquimalt, a nd throughout the r egion it will h elp to reduce unnecCurrently Available
NCR/All • 5070 Front and Rear Load
essary rush-hour c on gestion."
And the director of the Vancou• 5084 TTW
ver Island Tax Ser vices Office,
• 5085 Full Function TTW
Fred Vivash , ad ds that R evenue
• 5088 Drive Up
Canada " is committed to h elping
save the environment and this is a
ALSO
• 5075 A.CD.
really positive step."
ABM Sales & SuppoH L•d.
For Information, Call Dave Mauer at 318-0774
ENTERPRISE• JANUARY/FEBRUARY 1997 • 27
RFPMtiC
Crest Realty
MERCEDES WONG
lhis Mercedes
goes non-stop. Now,
she's worl<ing on her
Certified Commercial
Province-wide, continued
from page 4
awareness trend line always takes a
dip when the ads are off the air. But
when they're running, the tracking
results arc impressive: aside from
improving the switch rate, some 73
percent of people randomly interviewed said they would be "very
likely" or "somewhat likely" to consider joining a credit union. Freeborn notes that the campaign's target
was 68 percent, up from 60 percent
in October 1995. In addition, the
nwnber of non-members who have
phoned or visited a credit union in
the past month rnse to 22 percent
from 15 percent. A key, of cow:se, is
to "close" these visitors and callers
as ment1Jers.
Freeborn points out the long-te~m
nature of the strategy. The first phase,
launched in 1992 with credit lmion
interviewer Jim Smith, raised the
public's awareness that B.C. credit
unions are secut·e, open to all and
unique. It s ucceeded in elinrinating
most " myths" about credit unions.
(Smith is currently involved in a Saskatchewan credit wrion campaign.)
Now, awareness is sky-high, with
many publications reporting on the
dust-up between B.C. credit unions
and hanks. The switch i s on.. And
supporting point-of-purchase materials are being tailored specifically
to the 40 or so credit unions that
make good use of them. Key credit
union and Central players are encom·aged to blrild on the media glare
by getting even more involved in the
community. "Talk to your local r eporters, get on the talk shows. Let's
keep the momentum btrilclli1g," Freeborn suggests.
HEAT'S ON
The ad campaigns are heating up
in the banking industry. Mbanx is
pulling out all the stops with an aggressive advertising budget, Freeborn notes. Since the mbanx
campaign star ted, the B.C. credit
union "sh are of voice" drnpped hy
50 penent. In addition, CIBC is
cou ntering with its "hack to roots"
and "small business" ad campaigns.
Toronto-Dominion is publishing
major corporate "stories" ancl more
Green Line ads are anticipated.
Royal Bank is stressing community
involvement and equipping st aff to
eo1nbat its most aggt·essive B. C. competition - credit unions.
So what's next? Freeborn hesitates before pointing out that it's difficult to advertise specific pt·oducts
because most aren't available at all
credit unions. She would like to see
the system tackl e another image
problem -identity. "The provineewide TV ads extol the benefits of
switching to the Savings and Credit
Unions of B. C. But r esearch inclieates that there is still grnat confusion for consumers regarding this
term. Should we consider changing
the term? Wl1at does the hands-andglobe logo stand for and if the majority of credit unions won't use it,
would a new, unifying logo serve us
better?" All of these questions, she
suggests, should be on the table. c
Investment Member
designation!
Phone:
FAX:
Cellular:
Toll free:
(604) 732-1336
(604) 732-0012
(604) 328-7138
1-800-668-3369
RS' CONFERENCE
daAfo/}~d
/o/// owctd
~tent
tuU~ lerulev.Y
Yourfriencl ·i n real estate:
:Mercedes \Vong
RE/MAX Crest Realty
MAY 8 - 9, 1 997
3215 MncDonal<l Street, Vancouver, B.C. V6L 2N2
WATERFRONT CENTRE HOTEL• VANCOUVE R , 8.C.
For more i11for111ation, contact Human Resources at 737-5030
28 • JANUARY/FEBRUARY1997 •ENTERPRISE
I I