Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Suncoast Schools reports surge in new members
TAMPA, Fla. (11/2/11)--To meet the increased demand of unhappy bank customers seeking to switch their accounts, Suncoast Schools FCU has created a specially designated Switch Team in its contact center.

The credit union opened 5535 checking accounts in October, compared with 2876 checking accounts opened in October 2010, an increase of 92%, according to Patti Barrow, Suncoast Schools FCU vice president of marketing.

Depending on call volume, the Switch Team comprises between eight and 13 member service representatives ready to help prospective members through the process of opening new accounts, she told News Now.

Although all of the call center's representatives are trained to open accounts, Switch Team members are in place to assist members with more detailed information.

"We find that when it comes to switching from one financial institution to another, there really is no one size fits all," Barrow said. "Every situation is unique, and everybody has different questions. Our switch team is there to help people through the process based on their individual needs."

Callers don't expect the switching process to take place overnight, Barrow said.

Most callers don't want to open an account online, or even through the contact center," she added. "That might be where they start the process, but most people want to sit down face to face with someone."

That is among the reasons that Suncoast Schools FCU is not approaching Saturday's Bank Transfer Day as a one-day event, Barrow said. The credit union is working to attract new business, though. It is offering members who open a new account through a Saturday chance to win one of 15 iPads.

Barrow also said the credit union will bulk up staffing on Saturday to prepare for the expected surge.

"We are gearing up to make sure we're ready to do whatever it takes to serve all of our members that day," Barrow said. "But for us, this is about creating growth over the long term."

CUNA, the leagues, and credit unions have worked extensively with national media to point out the benefits of credit unions as an alternative to high bank fees.


RSS print
News Now LiveWire
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
3 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
3 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
5 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
23 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
7 25 ago