SAN DIEGO—A delegation from Costa Rica-based CoopeAnde No. 1 Credit Union visited with four San Diego area credit unions as part of the World Council of Credit Unions’ Immersion Learning Program.
According to WOCCU, through the visits with East County Schools FCU, Frontwave CU, MyPoint CU and USE Credit Union, the group learned how these credit unions are seeking to innovatively serve members and their communities.
WOCCU said the program is one of several immersion learning exchanges coordinated through its World Council’s Global Classroom—an initiative that provides credit union professionals from around the world the opportunity to network and exchange perspectives on the shared challenges they face.
CoopeAnde—one of the largest credit unions in Latin America with assets of more than $900 million—was established in 1965 to serve members of the National Association of Educators (Ande), providing a financial solution to professionals within the education sector. It serves more than 70,000 members—from public, private, semi-private educational institutions and universities throughout the country—at 23 branch locations.
‘Perfect Example’
"Our exchange this week was a perfect example of credit unions' local service with a global reach,” said World Council Program Manager for Member Services Thomas Belekevich. “As technology changes the way we do business, it was enlightening for our colleagues from Costa Rica to see credit unions’ continued commitment to personalized service. The new perspectives shared by our hosts this week will be used by CoopeAnde to improve financial educational tools for members in communities throughout Costa Rica."
East County Schools CU
The round of visits began at East County Schools FCU in El Cajon and Frontwave CU in Oceanside.
The Costa Rican group was able to speak with Bill Hale, a teacher with the La Mesa-Spring Valley School District and a member of the credit union, as well as with Board Chair Patty Floyd in addition to staff from the $123-million East County Schools FCU.
WOCCU noted East County Schools provides a variety of programs for its 4,438 members, including an advanced payroll loan program for newly hired employees (who may have to wait up to a month to receive their first paychecks); loans to East County school districts for equipment; and loans of up to $500 at 0% interest for educators to help pay for school supplies and other materials.
Hale, the science and math teacher, said he has zero budget for materials, so he frequently must solicit donations from parents.
According to WOCCU, CEO Steve Devan quipped, “Education is the only profession in the U.S. where people steal from home to bring to work.”
East County Schools also has what it calls its “CU2U” Service, which “brings” the credit union to school sites by appointment so members can open new accounts, apply for loans, and set up bill pay services, for example.
“Because we run as an employee benefit model, we’re allowed on campus to be very present in front of our members on a regular basis,” said Business Development Officer Karen Fleck.
Educators Tour
For nearly 12 years, the credit union has sponsored and led the East County Chamber of Commerce’s Educators Tour to various countries as well as paid for one its members’ trip. In 2013, the Educators Tour went to Costa Rica. Due to the overwhelming success of the program, it has added an Educators Tour 2.0 with a return trip to Costa Rica in 2020. To the delight of the East County staff, the Costa Rican delegation said they wish to serve as a resource for the upcoming trip, WOCCU reported.
“The great care you have for your members, especially those dealing with difficult financial situations, is impressive,” said Coope Ande Board member Leal López. “It shows the great relationship you have with your members—that you’re always looking for better opportunities to help your members.”
Tour of Frontwave CU
In the afternoon, the group visited the headquarters of Frontwave CU, which has 109,000 members, 14 branches and $900 million in assets. The average age of its members is 34.
CEO Bill Birnie provided a brief history of the credit union, formed in 1952 as Camp Pendleton FCU. In 2001, the credit union changed to a state charter and a community field of membership and got a new name: Pacific Marine CU.
According to WOCCU, Chief Marketing Officer Todd Kern detailed the credit union’s successful 2018 name and brand change. The credit union changed its name from Pacific Marine CU, in part, because it was looking for something that would distinguish it from other financial institutions as well as other companies with similar sounding names. In a survey of non-members, it found two in three believed the name hurt it; among members, one in three believed the same.
One of the key objectives for the name and brand change was to build a brand that would resonate with its key audiences and better position the credit union for future success, Kern said. It also wanted a fun, fresh and modern brand that also conveyed a sense of openness to the broader community. Frontwave’s four new branches feature the new branding and it has remodeled two branches so far with the new look. All six have a Frontwave CU store in which members can buy branded items such as t-shirts and caps. All the proceeds go to local charities, Kern said.
The Costa Rican delegation—which also went on tours of the call center and IT department—were impressed by the Frontwave CU video that spotlighted its new eye-catching and bold branding.
MyPoint Credit Union
The group also visited the newly opened North Park branch of MyPoint CU, where Vice President of Marketing Heather Dueitt, CEO Dave Brooke, Vice President of Retail Operations Christopher Crockett, and Business Development Manager Adriana Brunner (who frequently served as an interpreter) showcased the credit union’s prototype branch experience and new branding.
Like Frontwave CU, WOCCU noted MyPoint was seeking a brand that would stand out in a very competitive market. The credit union was chartered more than 70 years ago to serve the Point Loma neighborhood of San Diego. In 1998, it changed to state as well as a community charter.
“There were too many people that associated us with that community (Point Loma), so it was time to make a change,” Brooke said.
The end result was a new name and branding for the $550-million-asset-sized credit union that just debuted nearly 50 days ago.
“The color scheme of the credit union changed from blue to orange—and everything within the credit union features that color accent,” WOCCU reported. “You can even smell a citrusy scent as you walk into the branches.”
The North Park branch is the prototype for how the credit union envisions remaking the rest of its branches.
“Just two months old, the branch reflects the local community. Residents love their dogs and can often be seen walking them around the area, so the branch even has a dog water bowl in front,” WOCCU said.
It also features decorations and furniture from local stores and photos of members, Dueitt added.
The Wish Wall
A key visual element of the branch is the “Wish Wall,” a giant black chalkboard in which members can write their financial wishes or goals. The wall has been such a huge success, staff had to erase the board to make room for more wishes, Dueitt said. It’s a small space but one that provides multifunctionality.
There are no teller lines, but there’s a station in which members can come in and use their computers to look at emails, for example. It also has a conference room that can be converted into office space, WOCCU said
“We never want to stop improving,” Brooke added. “We’re always looking to make it easier for our members to do business with us.”
CoopeAnde Board Chairman Marín Arias said his credit union is also looking at doing the same thing as MyPoint. “Your example has generated a lot of ideas, which will be useful for us,” he said.
USE Credit Union
The delegation visited both the University & State Employees Credit Union (La Mesa Branch as well as its corporate office in San Diego.
According to WOCCU, unlike the other visits, this one featured more of a roundtable question and answer session, which provided the Costa Ricans the opportunity to follow up on any questions they might have from earlier meetings or touch on things they hadn't yet explored.
The $950-million USE CU has approximately 60,000 members and eight branches.
The group and USE CU staff, including Chief Experience Officer Paris Chevalier and Vice President of Marketing Amber Fielder, discussed the differences in board governance.
WOCCU said The visitors were also very interested to hear how the credit union handled the transition from being focused on serving solely university and state employees to a community charter.