Comments on: REI and the credit union spirit http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/ At CU Innovators, we help credit unions, CUSO's, and service providers create meaningful products and services for their members and clients. Fri, 12 Mar 2010 18:03:18 -0800 hourly 1 By: Nicole Harris http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-521 Nicole Harris Wed, 18 Jun 2008 20:02:27 +0000 http://blog.cuemployee.com/?p=239#comment-521 I've recently had my first REI experience as I am a newlywed and have married into an outdoors family....I am loving every second of it. As I read a bit about REI I couldn't believe my eyes... it was exactly what I felt that Credit Unions should be projecting at the same rate to their staff and members! I was ready to drop the cash to become a member of the co-op right away even though there isn't an REI anywhere close to my current home in Richmond, VA. How to instill the excitement to CU staff to sell products for a non-profit financial cooperative with the same enthusiasm as the salesman at REI did while fitting me for a backpack?! I’ve recently had my first REI experience as I am a newlywed and have married into an outdoors family….I am loving every second of it. As I read a bit about REI I couldn’t believe my eyes… it was exactly what I felt that Credit Unions should be projecting at the same rate to their staff and members! I was ready to drop the cash to become a member of the co-op right away even though there isn’t an REI anywhere close to my current home in Richmond, VA. How to instill the excitement to CU staff to sell products for a non-profit financial cooperative with the same enthusiasm as the salesman at REI did while fitting me for a backpack?!

]]> By: JD Valerio http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-520 JD Valerio Thu, 12 Jun 2008 18:43:43 +0000 http://blog.cuemployee.com/?p=239#comment-520 One of my favorite things about the REI in Minneapolis is the climbing wall. It gives me a chance to try out their products before i part ways with my money. It also makes the place look cool (from the inside and outside). I also like ROI's e-mail marketing system. I admit - their constant e-reminders make me want to go update some of my camping gear for the summer. One of my favorite things about the REI in Minneapolis is the climbing wall. It gives me a chance to try out their products before i part ways with my money. It also makes the place look cool (from the inside and outside).

I also like ROI’s e-mail marketing system. I admit – their constant e-reminders make me want to go update some of my camping gear for the summer.

]]> By: Tim McAlpine http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-519 Tim McAlpine Fri, 30 May 2008 02:33:34 +0000 http://blog.cuemployee.com/?p=239#comment-519 I just reread my comment and realized that I failed to mention that your post is excellent and really proves that when people have something in common based around a deep sense of belonging it is very powerful and creates real loyalty. Through in some great products and its a recipe for success. There, that was positive! I just reread my comment and realized that I failed to mention that your post is excellent and really proves that when people have something in common based around a deep sense of belonging it is very powerful and creates real loyalty. Through in some great products and its a recipe for success. There, that was positive!

]]> By: Tim McAlpine http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-518 Tim McAlpine Thu, 29 May 2008 22:44:53 +0000 http://blog.cuemployee.com/?p=239#comment-518 Differentiated and superior products and services are at the heart of brand differentiation. Only then will the love flow. Everyone in and around credit unions keeps talking about creating a brand that is adored but there is very little talk about actually creating superior products and services. Its hard to love a commodity. Can you replace "I love REI because I love the products and customer service experience" with "I love my Credit Union because I love the products and member service experience?" CUs need to actually create something that's new and just not another bank knock-off. Boy, I sound like the CU Skeptic today. Differentiated and superior products and services are at the heart of brand differentiation. Only then will the love flow. Everyone in and around credit unions keeps talking about creating a brand that is adored but there is very little talk about actually creating superior products and services. Its hard to love a commodity.

Can you replace “I love REI because I love the products and customer service experience” with “I love my Credit Union because I love the products and member service experience?”

CUs need to actually create something that’s new and just not another bank knock-off.

Boy, I sound like the CU Skeptic today.

]]> By: Credit Union Warrior http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-517 Credit Union Warrior Thu, 29 May 2008 22:10:13 +0000 http://blog.cuemployee.com/?p=239#comment-517 Robbie - Though I have never been to an REI (actually never heard of it before this post), your description of the organization was very vivid. It makes me think of Disney, Chik-Fil-A, and UKrop's - organizations that somehow find a way to provide consistently excellent service. What's the secret? How do these organizations pull it off? Is it salary/bonus structures for employees? Is it outstanding management? Is it quality products? Is it employee training? I'd argue it's all of the above, with a twist. Essentially, compensation packages, training, management, and product/service offerings must all be aligned to create a "WOW" customer experience. Alignment means no days off from the mission: consistent implementation, constant improvement, and total unwillingness to accept less than superb employee performance. Tie this with a great offering, and you have something truly special. None of this happens without great employees. The afore-mentioned organizations have been able to attract and retain quality employees because they make employees feel like they're part of something special - something unique. What is your credit union doing to attract dynamite employees? How are you rewarding them? How are you making sure that their performance is consistently superb? Are you providing members with services or experiences that are unique? Is your management team dedicated to making your credit union outstanding, or ho hum? Is the biggest driver for decision-making the balance sheet or member needs? A good friend of mine used to say, "you can't make chicken salad out of chicken scratch." If credit unions cannot attract and retain top-notch employees dedicated to the principles above, any hope for REI-type service delivery is a nothing more than a dream. Robbie – Though I have never been to an REI (actually never heard of it before this post), your description of the organization was very vivid. It makes me think of Disney, Chik-Fil-A, and UKrop’s – organizations that somehow find a way to provide consistently excellent service.

What’s the secret? How do these organizations pull it off? Is it salary/bonus structures for employees? Is it outstanding management? Is it quality products? Is it employee training?

I’d argue it’s all of the above, with a twist. Essentially, compensation packages, training, management, and product/service offerings must all be aligned to create a “WOW” customer experience. Alignment means no days off from the mission: consistent implementation, constant improvement, and total unwillingness to accept less than superb employee performance. Tie this with a great offering, and you have something truly special.

None of this happens without great employees. The afore-mentioned organizations have been able to attract and retain quality employees because they make employees feel like they’re part of something special – something unique.

What is your credit union doing to attract dynamite employees? How are you rewarding them? How are you making sure that their performance is consistently superb? Are you providing members with services or experiences that are unique? Is your management team dedicated to making your credit union outstanding, or ho hum? Is the biggest driver for decision-making the balance sheet or member needs?

A good friend of mine used to say, “you can’t make chicken salad out of chicken scratch.” If credit unions cannot attract and retain top-notch employees dedicated to the principles above, any hope for REI-type service delivery is a nothing more than a dream.

]]> By: Robbie Wright http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-516 Robbie Wright Thu, 29 May 2008 21:20:21 +0000 http://blog.cuemployee.com/?p=239#comment-516 I joked with someone at Experience that we should approach REI about forming a CU for their members... Seems like a natural fit to me! I joked with someone at Experience that we should approach REI about forming a CU for their members… Seems like a natural fit to me!

]]> By: Jamie Chase http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-515 Jamie Chase Thu, 29 May 2008 20:45:03 +0000 http://blog.cuemployee.com/?p=239#comment-515 Smart. Based on the international operating principles of cooperatives, credit unions and REI should really be collaborating. I'd love to see them work with a group of cedit unions in every city. Smart. Based on the international operating principles of cooperatives, credit unions and REI should really be collaborating.

I’d love to see them work with a group of cedit unions in every city.

]]> By: Christopher Stevenson http://cuinnovators.com/blog/rei-and-the-credit-union-spirit/comment-page-1/#comment-514 Christopher Stevenson Thu, 29 May 2008 20:35:10 +0000 http://blog.cuemployee.com/?p=239#comment-514 REI also carries its culture through all of its radio advertising, store design (http://www.treehugger.com/files/2008/05/rei-retrofits-11-stores-with-solar.php), and non-traditional offerings (http://www.rei.com/adventures). They live the brand and are a cooperative that's positioned for the 21st century. CUs can learn a lot from REI. REI also carries its culture through all of its radio advertising, store design (http://www.treehugger.com/files/2008/05/rei-retrofits-11-stores-with-solar.php), and non-traditional offerings (http://www.rei.com/adventures). They live the brand and are a cooperative that’s positioned for the 21st century. CUs can learn a lot from REI.

]]>