"CEO Tickler" Program Answer Key

The Mysteries of the Household

Now that you've been through the exercises, maybe there isn't so much mystery afterall. In fact, you may have discovered some valuable relationships already part of your membership base, but are currently underserved.

There are a number of menu options you could use to analyze your membership database, find memberships and accounts that could be brought into the same household, and find discrepancies in householding data.

Try these:

MNMGMA #13 - See which household a membership belongs to

MNMRKT #19 - Statistical Report by Household

MNMRKT #20 - Statistical Report by Member

MNMRKT #1 - Household Analysis

What processes are in place for enrolling household members?

You may have thought of other examples, but here are just two ways to start building your household database. When a member opens a new account, that would be a good time to be personable. Ask if other family members have accounts at the credit union. Across the desks of your lending officers presents another opportunity to find out if other memberships and accounts could be defined under one household.

What is the purpose of householding at your credit union?

This answer will vary for credit unions, even those in the same region. The key is being able to articulate the purpose so well that your staff understands its value. One major purpose might be the ability to connect with all members of one household in one marketing campaign. The campaign could be to promote introductory rates on your credit card product, or increased rates on CDs. The campaign could be by mail, email, or possibly by phone. Financial decisions are made at home every day. The objective is to open the door to opportunity using your household database as the source.

What is the regular review and maintenance process at your credit union?

How is it that maintenance so easily falls off the radar? It does, which is why it's so important to build the task into your plan and insert it into things your staff does everyday. These ideas will get you started. When enrollng new members, ask if they have other family members who already belong to the credit union. When a change of address is requested, search then for other members who share that address. What about a name change? That should trigger a search of the household database to see if you have other members with that same name - and of course have the same address.

Who is responsible for understanding those near-member opportunities in households?

This is not a trick question. When it comes to knowing your members and seeking to add new members to your credit union, everyone is responsible. To get started on the road to finding new members, start with the people you already have tucked away in your database. Run a query against the file MSNONMBR. This is easy when you use the list generator program on MNPRTC (5). This is where you decide the criteria you will use to extract records to include in your next contact. Turn non-members into members. Then don't forget to include them in a household - which is the subject of this whole exercise.

List three projects or functions that took advantage of using household information last year?

You're on your own with this one. The three projects are uniquely yours. If you can't answer, consider planning for three projects now. Remember the help available to you. We have a book for that! http://www.cuanswers.com/pdf/cb_ref/H-HouseholdStatistics.pdf and if you want more, check out the book, Knowing Your Members http://www.cuanswers.com/pdf/cb_ref/KnowingYourMembers.pdf Copy and paste the links into your browser window to go directly to those reference materials.

When was the last time your team looked at aggregate household data available to the management team?

This edition of the CEO Tickler Newsletter was sent in January. Hopefully by now you have met with your managers and your staff to discuss the advantages of householding. Even beyond the discussion, have you written it into your business plan to actively use the features of the householding system to make 2010 the year to Know Your Members and profit from it?




The Mysteries of the Household Now that you've been through the exercises, maybe there isn't so much mystery afterall. In fact, you may have discovered some valuable relationships already part of your membership base, but are currently underserved. There are a number of menu options you could use to analyze your membership database, find memberships and accounts that could be brought into the same household, and find discrepancies in householding data. Try these: MNMGMA #13 - See which household a membership belongs to MNMRKT #19 - Statistical Report by Household MNMRKT #20 - Statistical Report by Member MNMRKT #1 - Household Analysis



What processes are in place for enrolling household members? You may have thought of other examples, but here are just two ways to start building your household database. When a member opens a new account, that would be a good time to be personable. Ask if other family members have accounts at the credit union. Across the desks of your lending officers presents another opportunity to find out if other memberships and accounts could be defined under one household.



What is the purpose of householding at your credit union? This answer will vary for credit unions, even those in the same region. The key is being able to articulate the purpose so well that your staff understands its value. One major purpose might be the ability to connect with all members of one household in one marketing campaign. The campaign could be to promote introductory rates on your credit card product, or increased rates on CDs. The campaign could be by mail, email, or possibly by phone. Financial decisions are made at home every day. The objective is to open the door to opportunity using your household database as the source.



What is the regular review and maintenance process at your credit union? How is it that maintenance so easily falls off the radar? It does, which is why it's so important to build the task into your plan and insert it into things your staff does everyday. These ideas will get you started. When enrollng new members, ask if they have other family members who already belong to the credit union. When a change of address is requested, search then for other members who share that address. What about a name change? That should trigger a search of the household database to see if you have other members with that same name - and of course have the same address.



Who is responsible for understanding those near-member opportunities in households? This is not a trick question. When it comes to knowing your members and seeking to add new members to your credit union, everyone is responsible. To get started on the road to finding new members, start with the people you already have tucked away in your database. Run a query against the file MSNONMBR. This is easy when you use the list generator program on MNPRTC (5). This is where you decide the criteria you will use to extract records to include in your next contact. Turn non-members into members. Then don't forget to include them in a household - which is the subject of this whole exercise.



List three projects or functions that took advantage of using household information last year? You're on your own with this one. The three projects are uniquely yours. If you can't answer, consider planning for three projects now. Remember the help available to you. We have a book for that! http://www.cuanswers.com/pdf/cb_ref/H-HouseholdStatistics.pdf and if you want more, check out the book, Knowing Your Members http://www.cuanswers.com/pdf/cb_ref/KnowingYourMembers.pdf Copy and paste the links into your browser window to go directly to those reference materials.



When was the last time your team looked at aggregate household data available to the management team? This edition of the CEO Tickler Newsletter was sent in January. Hopefully by now you have met with your managers and your staff to discuss the advantages of householding. Even beyond the discussion, have you written it into your business plan to actively use the features of the householding system to make 2010 the year to Know Your Members and profit from it?


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