First Technology Credit Union Leverages Sales Technology to Facilitate Growth

First Technology Credit Union (FTCU) CEO Greg Mitchell weighs in on how he has leveraged sales and service technology to facilitate growth across several years:

FTCU needed to figure out how to be relevant in the face of FinTech innovation and the growing irrelevance of traditional financial institutions. FinTechs were taking market share rapidly. The credit union needed to change its culture from one of entitlement to one of member advocacy. Its products and distribution were stale, and it didn’t know its members.

The credit union therefore rolled out Salesforce and Terafirma to improve member experiences across all delivery channels. FTCU’s first implementation of Salesforce did not go as well as planned; the credit union tried to promise too much and it couldn’t deliver. It then moved to an agile deployment strategy.

“You have to make the tough calls and have the fortitude to muscle through the difficult parts to make the cultural changes,” said Mitchell. After muscling through those bumps in the road, FTCU saw resolution in the call center rise from 42 percent to 82 percent within the first year, and saw an immediate reduction of $4 million per year in fraud losses. The credit union also saw a 15 percent year-over-year growth, achieved $9.5 billion in assets, and had a 1.23 ROA. Members reported being able to transact with the credit union in simpler and more efficient ways.

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