DanielleHelping Members Who Are Struggling
Guest Blogger: Danielle Hilbert (Natzke)
Mortgage/Loan Officer
Health Care Credit Union, Oshkosh, WI

One thing I have found to help members that are struggling is to take advantage of the multiple share accounts available on the Sharetec system. I like to use it as a budgeting tool for members, showing them how to manage their money better. 

We sit down and review all of their monthly bills and break them down onto a spreadsheet to see how much money needs to be set aside from each paycheck. Then for each bill we open a share account. We use Sharetec’s Payroll Deduction feature to disburse their money into these sub-accounts. When members see how much money they have left for spending, they are amazed.   

Aside from using this tool for budgeting purposes, we also use the same philosophy when doing loans or helping struggling members. Going through the members credit report, helping them consolidate their loans, and using these sub-savings accounts, is a great tool to help members put money away to pay off high interest debt or collections.

Teaching and assisting members to budget and save their money helps create life-long relationships with their financial institution, and these members are also the ones advocating for your credit union in the community and helping bring in new members.

Taking time with your members not only helps them, but also helps your credit union.