Employees of Electro Savings Credit Union (St. Louis, MO) are pumped and ready to help their members reach their financial goals and assist them with their financial struggles. The credit union, which participates in the Balance Financial Fitness Program, recently challenged its frontline employees to complete “Balance Boot Camp”. During the six-month Boot Camp, employees completed an orientation of the Balance program, a confidential one-on-one test-drive with a Balance certified financial counselor, and eight online training modules: Psychology of Spending, Money Management, World of Credit, Why Credit Matters, 10 Steps to Financial Success, High Cost of Financial Services, Drive Away Happy, and The Road to Home Ownership.
“We knew if our employees experienced the Balance program firsthand, they would be better at recognizing conversational cues given by members and their comfort level with recommending members to Balance would increase,” explains Lisa Farnen, vice president of Marketing. “Balance helps support our credit union’s financial education initiatives, helps reduce losses and promotes the development of stronger member loyalty. However, the key to its success is making sure our members know Balance is available.” So far, the results are exactly what the credit union expected. Since implementing the training in May 2012, Balance usage by Electro Savings members has increased by 25%.Photo Caption: Electro Savings' employees ready for Balance Boot Camp.