The Second Effort Separates the Winners from the Losers

The Second Effort Separates the Winners from the Losers
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The “Second Effort” Separates the Winners from the Losers

University Federal Credit Union Refocuses Its CRM Initiative

By: Jean Young, Vice President, ISM

April 29, 2014

Watching the NBA playoffs, I note the commentators often reference a team making a “second effort” to overcome a deficit to win the game. With a failure rate of 50 percent and more, second efforts for CRM implementations can make the difference in long term success. University Federal Credit Union (UFCU) is one such success story.

Founded by a group of University of Texas professors in 1936, UFCU has experienced both the pluses and minuses of rapid growth as it expands services to an increasing number of university communities in central Texas and Galveston. UFCU, headquartered in Austin, has grown to assets of $1.6 billion and 168,000 members.

Sheila Jo Wojcik, Ph.D., Senior Vice President of Communication & Corporate Affairs, UFCU, an early advocate for a CRM system geared to UFCU’s financial services environment, says, “There was agreement CRM was needed but a lack of know-how to successfully move forward.” As Wojcik notes, “We were off-course as we too quickly selected a software vendor and created a very complicated design document putting technology ahead of people and processes.”

“We did pick excellent software, Pivotal CRM by Aptean, that has stood the test of time and the steering committee decided to retain external expert advice concerning industry best practices and successful CRM implementations”, Wojcik adds.

That’s when Barton Goldenberg and ISM were brought onboard to facilitate the UFCU CRM development process. Following ISM’s successful People (50%), Process (30%) Technology (20%) methodology, the ISM team worked with the UFCU steering committee and project team to space the program into manageable phases and to align the development approach with best practices.

By the end 2013, program objectives for Phase 1 – which included a 360 degree member profile, automated service requests, and activity management – were successfully implemented. For the 2014-15 timeframe, UFCU is developing a long-term roadmap for the development of its CRM system including new account opening, contact center IVR integration, and member initiated service requests through its website.

Second efforts take a lot of “effort” but UFCU has proved CRM success is translated to success for the growth of its business.

Note: Read University Federal Credit Union Brings ISM Onboard To Get Its CRM Initiative On Track, an ISM case study, and a recent Aptean media release on UFCU.