“We’re a service organization, not a sales culture.” I’ve heard those words from a number of credit unions. Too bad they’re wrong.
Ahh!! Put down the pitchforks and torches! Please, at least for a moment! Those credit unions were incorrect about one half of their statement. Of course they should remain a service organization. That’s what makes a credit union, well, a credit union. But no sales culture? Everything is sales.
- What you eat for breakfast is sales,
- If you choose to read my posts is sales,
- Every decision is sales at its core.
What many credit unions have in mind when they hear “sales” is the aggressive “used car salesman”. You know, like this guy. (Which happens to be Kurt Russell from the 1980 film “Used Cars”.)
I’m in sales, and they’re a horrible representation of it (but he’s a great actor). I’m also professionally trained in a sales system which insists upon clarity and respect for all parties. As my sales coach used to say, “sales is a noble profession”. We don’t look at a bad driver and say, “drivers are all terrible”. Except here in Florida, where they are. Besides that, generalizations distort the truth.
Your credit union can deliver world-class service while being a sales culture. In fact, the latter supports the former! An MSR truly connecting with members learns about them. Their goals, their needs, their worries. This considerate MSR can suggest Payment Protection Insurance on a loan to someone who is worried about their family being burdened by a loan if they can’t work. Sure, they’re selling a product, and the credit union is making money (as should the MSR), but the member feels better served and more secure. They’ll remember how your credit union helped, especially if they need to take advantage of the policy.
Curious as to where to start? The Missouri CU Association shared their guidance with NCUA as a step-by-step process.
The other side of the discussion is a member who was not sold at all. They closed a loan and were “sold” nothing. Congratulations, your staff served the member by not selling them any additional services. Then, three months later, their car is totaled. Without GAP coverage, they now owe $4000 to make up the difference. Are they:
- Really pissed
- All of the above,
…with your credit union? You were serving that member, yet never told them there could be a large gap between what their car is worth and what they owe? That’s not service! Your lack of a sales culture could have changed this person, and their family’s life, for the worse.
Having a sales culture based on honesty and up-front discussions with members creates a win/win scenario. Members are happy to be offered services which may fit their needs (and can easily say no once informed). They’re thrilled when these services are used and they save money as a result. You’re a real life-saver in these cases. Through it all, your credit union makes more money, enabling you to offer more community services, lower rates, and better fulfill your mission.
Knowing what you do now, will you adopt a sales culture?
When you do, in the words of Dumbo, “Don’t just fly, soar!”
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Image credits: http://images4.fanpop.com/image/photos/20500000/Dumbo-in-Kingdom-Hearts-walt-disney-characters-20542266-786-568.jpg, https://www.imdb.com/title/tt0081698/