Credit Unions

Top Credit Unions Thrive on Member Relationships

5 mins read
August 22, 2022
By
Megan Burr

Growth is the key driver of high performance for credit unions, according to analysis by Raddon. No big surprise there for any financial leader, but how did they find growth? And how do members, and credit unions’ relationships with them, play in?

Raddon found high-performing credit unions excelled at widening member usage of their products and services, managed higher ratios of profit-contributing households, garnered more risk-free revenue from fee income, and grew revenue without drastically scaling expenses.

Garnering Growth and Profitability

Helping members with a greater portion of their financial needs has clear correspondence to high performance and growth. The top 10% of credit unions were nearly 20% more likely to earn higher deposit and loan balances from members than others in the top half. If that seems like a slim advantage consider that those in the top 50% were 120% more likely than those in the lower 50% to grow deposit and loan relationships.

Profitable households also subsidize far fewer unprofitable households at top performers. Whereas at lower-ranking credit unions, only 30 percent of households were profitable – the remaining majority of their members do not generate enough margin income or non-interest income to offset the costs of servicing their accounts. While even top performers still subsidize the majority (58%) of households, profitable households make up 40% more of their member base compared to the bottom 50% of the institutions.

Relationship Builders

High performers received significantly greater shares of members’ deposits and loans.

For example, at high-performing institutions, nearly four out of 10 (39%) of member households’ total loan balances were with the institution, with the remaining 61% assumed to be with competitors.

In contrast, the bottom half of credit unions garnered only 30% of members’ total loan balances – a 30% shortfall compared to their peers.

High performers also depended on broader member utilization of their products and services. Notably, the top 10% of credit unions “cross-sold” a new product to 10.6% of their membership within the past six months. The cross-sell rate declines by nearly 38.5% for lower-ranked credit unions to 7.8%

Raddon3

Performance is a function of a credit union’s ability “to develop deeper member relationships,” Raddon reported. Aside from the number of services used by a member, deeper relationships meant greater usage of products and services that generate non-interest income.

More fee revenue, though, was not necessarily about having more fees or higher fees, “it is the reflection of having stronger consumer engagement and more diversified sources of non-interest income,” Raddon analysts wrote.

When an institution is good at widening member use of its services, it is far more likely to provide members its investment services, which generate more fee income than other services. More robust levels of checking penetration offer non-interest income opportunities as well (see the table above), such as debit and credit interchange revenue. These fee sources also are not double-edged swords. They generate non-interest incomes without taking money from members’ accounts in a way they perceive as punitive.

High-performing credit unions earn 38% more non-interest income per household than their counterparts.

Scaling and Efficient

High-performers are more efficient than peers.

Calculated as total expenses as a percentage of total revenue, efficiency comes from reduced expenses, increased revenue, or a combination of the two. As the adage says: You can’t cost-cut your way to growth and profitability. High-performers do control costs, but their efficiency comes from generating significantly higher levels of revenue per household relative to their costs. They show credit unions are better off earning their way to better efficiency than simply cutting costs.

“For most organizations, expenses can be reduced by only so much before the reduction has an impact on service levels or growth opportunities,” Raddon explained in its report. “Deposit rates can be cut by only so much before the cost of funds hits a virtual floor.”

Because revenue is 37.4% higher at high-performers, they are still more efficient than their peers, even though they spend 9% more.

High-Performance Road Map

Credit unions need to follow the roadmap of high-performing credit unions, especially as interest rates and economic conditions change. Rising interest rates offer opportunities to grow earning assets at a higher margin, even while economic conditions may or may not support loan growth. Improving at serving current members for all borrowing needs – especially those that overlap with the institution’s offering – insulates growth in challenging economics, and supports more growth in favorable environments.

The story is similar for cost of funds and margin, loan growth becomes even more valuable when institutions stave off margin pressures from deposit price competition. When credit unions manage deposit retention and growth at an acceptable cost relative to their asset-liability strategies, greater profitability is within reach. Non-interest income also is the single best protection for profitability in times of margin compression.

As credit unions win consumers over – especially when they begin to see the credit union as their primary financial provider (PFI) – they become true members. Rather than simply keeping a share account, they use the institution for major financial milestones. When every major tactical contributor to high-performance is member relationships – their depth, profitability, and efficiency – leaders need to make building those relationships their focus.

This article is edited and republished with permission from Raddon, a Fiserv Company. The findings reported are results published by Raddon for its Crystal Performance Award, an annual recognition for credit unions.

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Beyond Speed to Lead: How USA Mortgage Built a $60M Opportunity Pipeline with AI-Enabled Automation

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The best leads aren't always new leads. In fact, they're hiding in the database every loan officer already has, waiting to be noticed.

That's the insight USA Mortgage discovered when they partnered with Total Expert to transform how their originators identify, nurture, and convert past customers into new opportunities. The result? ~$60 million in funded loan volume in just six months, plus another $175 million in pipeline.

But here's what's really interesting: the technology wasn't the bottleneck. It was the process.

The problem: leads disappearing in the middle

Walk into any mortgage lender, and you'll find the same story. Loan officers are smart, they work hard, and they have plenty of leads coming in from multiple sources: referral partners, purchased leads from Zillow and LendingTree, and their own past customers.

But somewhere between the lead arrival and the follow-up, opportunities vanish.

USA Mortgage's VP of Sales and Customer Experience, Alec Picinich, described the friction this way:

"We had strong loan officers and plenty of lead activity, but the handoff was the issue. There was no uniform system in place. Most producers had their own system—reminder-based inbox notifications, spreadsheets, personal call lists. The lack of centralization was the biggest issue. The gap was in the middle, where the opportunities kind of just disappeared."

All those disconnected systems led to inconsistent follow-up and limited visibility into what was working and what wasn't. And with no way to nurture borrowers who weren't quite ready today but might be ready next month, those opportunities got buried deeper and deeper under waves of new leads.

The result was predictable: lost deals, confused teams, and a corporate support function with limited ways to help scale best practices across the organization.

The Solution: one source of truth

Rather than layering on more tools, USA Mortgage decided to consolidate. They brought all their leads from referral partners, purchased sources, and past customers into a single unified platform: Total Expert's Lead Management.

But consolidation was just the first step toward preventing leads from slipping through the cracks. The real shift came when they connected three capabilities:

1. Customer IQ: identifying opportunities in your existing database

Most loan officers don't excel at proactively reaching out to past customers. They're focused on today's purchase business, and without a system to surface opportunities, past borrowers fade into the background.

Customer IQ changes that. It's a contextual data system that continuously monitors and enriches every contact record in your database. When a borrower experiences a life or market event that creates an opportunity such as a rate drop (refinance window), a credit inquiry from another lender, a debt threshold crossed, a marriage or divorce, Customer IQ spots it and brings it to your team’s attention.

At USA Mortgage, this meant monitoring 190,000 customers and turning insights into action. In just six months (January–June 2024), those customers generated:

  • ~$60 million in funded volume
  • $175 million in application pipeline (with expected 80% funding conversion)

That's an opportunity that was already sitting there; it just needed to be seen.

2. Lead Management: centralized workflow and accountability

With Customer IQ surfacing opportunities, USA Mortgage needed a system where loan officers could manage those leads the same way they manage purchased or referral partner leads.

Lead Management provided:

  • A single source of truth for all leads (past customers, referral partners, purchased leads)
  • Clear visibility into lead stage and action items
  • Consistent routing based on originator or branch
  • Automated nurture campaigns for borrowers who weren't ready yet
  • Compliance controls to ensure messaging is consistent and compliant

Suddenly, loan officers could answer three simple questions about every opportunity: Who is the lead? What do they need? Why is the opportunity present right now?

That context—that "why"—changes everything. It's the difference between a cold check-in call and a conversation-ready outreach.

3. AI Sales Assistant: outreach on demand & at scale

Even with a unified system and better intelligence, loan officers still can't personally call every past customer when the market shifts. If rates drop and 1,000 borrowers become in-the-money for a refi, even the most efficient lending teams can't operationalize that in the two or three weeks when the market window is open.

Enter AI Sales Assistant, a human-like voice AI that’s powered by Customer IQ’s contextual data and trained on real-world mortgage conversations so it can answer questions, navigate borrower objections, and qualify opportunities.

AI Sales Assistant acts as an extension of lending teams by:

  • Initiating outreach to all qualified past customers (potentially in a single day)
  • Personalizing the conversation based on the borrower's situation, previous transaction, and estimated savings
  • Handling objections gracefully (Alec shared the story of a borrower who said "I'm feeling sick, not a good time.” AI Sales Assistant responded with empathy and offered to schedule with the loan officer later, which the borrower accepted)
  • Offering warm transfers to the loan officer for borrowers ready to talk
  • Scheduling meetings on the originator's calendar for qualified leads

This allows loan officers to focus their time on high-quality conversations with informed borrowers, not figuring out who to call or manually working through a database.

Real-world execution

One of USA Mortgage's senior regional VPs shared a success story that perfectly captures the shift:

An experienced loan officer received a credit inquiry alert for a past customer; someone she hadn't worked with in years. The borrower had lost the loan officer’s contact information. But thanks to the alert surfaced by Customer IQ, the loan officer reached out with context and relevance.

The result? A $400K pipeline boost with minimal effort from the loan officer.

This doesn't happen with a generic check-in call. It happens when the loan officer knows why they're calling and has the data to back it up so the outreach feels timely instead of transactional.

The bigger picture: human + AI operating model

What USA Mortgage discovered is that the future isn't human or AI. It's human + AI.

The loan officer remains the relationship owner and builder, the decision-maker, the one who earns trust. But now, they're equipped with:

  • Intelligence about who to engage and why
  • Automation handling the high-volume, time-sensitive outreach
  • Consistency across the entire organization
  • Tools that make their job easier, not harder

Three takeaways

If you're struggling with lead follow-up, originators working in silos, or deals slipping out the back door, here's what to focus on:

1. Strong lead management isn't just about speed—it's about long-term nurturing
Speed matters for converting hot leads, but most conversions happen in the follow-up. Build a nurturing strategy that keeps borrowers engaged from first touch through the next opportunity to serve.

2. Your database is your biggest opportunity; operationalize it like a referral partner lead

If you're not connecting data intelligence with lead management, you're leaving deals on the table. Treat past-customer insights with the same urgency and structure as a purchased lead or referral partner referral.

3. Build an enterprise strategy with human + AI models

Replace ad-hoc originator habits (spreadsheets, personal reminders, disconnected systems) with a unified, AI-assisted operating model. Consistency across your sales force is what unlocks scale.

Watch the full conversation

Hear how USA Mortgage is using Total Expert to solve their lead management challenges, develop a better understanding of their customers, and engage opportunities at scale.

Ready to explore how a human + AI operating model could transform your originator productivity and customer conversions?

Reach out to your Total Expert Customer Success Manager or book a demo with our team below!

Expert Partner Network

The Moving Day Advantage: Transform Closing Day into a Loyalty Moment

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Meet the Partner: OneSource Solutions

OneSource Solutions is a utility concierge service that simplifies one of life's most stressful moments: setting up electricity, gas, internet, water, phone, home security, and other essential services after moving. OneSource handles the legwork by identifying providers, comparing options, and coordinating setup so homeowners can enjoy the excitement of their new home instead of stressing over the logistics. With over 1.1 million connections successfully completed, OneSource has built a reputation for taking chaos and turning it into peace of mind.

The moving day problem nobody's solving for

For some lenders, closing day is the end of the journey. But for their customers, it’s the start of a new chapter. There's joy in owning the keys. But there's also stress.

According to research, nearly 80% of Americans rank moving as one of life's top stressors. As if scheduling showings, putting in offers, and finally signing the paperwork wasn’t stressful enough—now borrowers have to figure out utilities, internet options, security systems, and more. And if they’re moving to an unfamiliar area where they don't know the companies and providers, they'll be making dozens of decisions with incomplete information, juggling phone calls and online portals, and trying not to miss setup deadlines.

The average homeowner spends 5–6 hours just coordinating these utilities. That's time spent on friction, confusion, and often overpaying for services they didn't adequately research or compare.

Lenders might walk away with a closed loan and a satisfied borrower, but they miss a critical opportunity that has a short window: Post-loan engagement. This is your chance to turn a single transaction into a lifetime of loyalty.

Why this moment matters for lenders

For years, the mortgage industry has focused heavily on the pre-close experience. That's where the relationship is built, where trust is established, and where communication is constant. But once the papers are signed, that relationship often goes dormant. That's a missed opportunity on multiple levels:

Retention: Borrowers who feel supported through the entire process, not just the financing part, develop deeper loyalty. They're more likely to come back for a refinance, a HELOC, or a new purchase down the road.

Referrals: Borrowers who enjoyed a smooth experience talk about it. When you go above and beyond to help them through the moving process, they’re more likely to become advocates and refer you to friends, family, and colleagues.

Competitive advantage: In a crowded lending market, showing up in the moments that matter sets you apart. It shifts you from being a lender to being a trusted advisor. The borrower's perspective changes from "they financed my home" to "they helped me through a major milestone."

Lifetime value: Today's borrower is tomorrow's repeat customer. A first-time homebuyer who closes with you at age 32 may need a refinance at 41, a HELOC at 48, and a move-up purchase at 53. That's three separate mortgage opportunities where they’ll need professional help—your help if you nailed the post-close experience.

The problem: fragmented solutions, fragmented experiences

Some lenders have tried to solve this by offering hodgepodge perks—a moving company discount here, a home service coupon there. But those aren't solutions. They're band-aids.

Borrowers don't want more options to manage. They want fewer things to think about. They want centralized, reliable, expert guidance on something they don't know much about—and they want it to come from someone they already trust: their lender. That's where OneSource comes in.

What OneSource does

OneSource removes the friction from setting up home utilities by acting as a concierge between the borrower and providers. Instead of the homeowner calling around to figure out which company services their address, comparing plans, and coordinating multiple setup appointments, OneSource does it—all in one place.

The service covers:

  • Identifying all available providers for a specific address (electricity, gas, internet, phone, home security, television, water, trash, etc.)
  • Comparing options and pricing in deregulated markets where choices exist
  • Securing exclusive discounts not available to the general public
  • Coordinating setup and activation so utilities are ready on or before move-in day
  • Saving borrowers 5–6 hours of coordination and often hundreds of dollars in optimized or exclusive pricing

For lenders, the value is even clearer: borrowers save time and money, feel supported, and associate that positive experience with the lender who connected them.

Over 1.1 million homeowners have used OneSource, and adoption rates among lender partners are consistently strong. Because it's not positioned as a "perk"—it's a genuine solution to a real problem that every homeowner faces.

How Total Expert and OneSource work together

Most lenders know they should be staying engaged with borrowers after closing. The challenge is execution: how do you make it seamless, scalable, and actually valuable?

The integration between Total Expert and OneSource answers that question.

Automated outreach at the right moment

Using Total Expert Journeys, lenders trigger a OneSource connection at the perfect time—typically 5–10 days before closing when the borrower is starting to think about logistics but hasn't yet begun the chaotic work of setting up utilities. The borrower receives an invitation to connect with OneSource, all contextualized within their communications with the lender.

One-click access

The borrower doesn't need to sign up for another platform or navigate a new website. They receive a direct link to their pre-populated OneSource profile, so the barriers to entry are near zero. They answer a few questions about their new address and service preferences, and OneSource takes it from there.

Transparent outcomes

As OneSource coordinates utilities and completes activations, lenders can see that engagement happening. When utilities are activated, when issues are resolved, when the borrower has saved money—that data stays visible in the context of borrower relationships, not in a siloed system.

Continuous engagement

The relationship doesn't end at utility setup. By bringing this service into Total Expert Journeys, lenders can sequence follow-up touchpoints that keep them connected as the borrower moves through the post-close window. A check-in on moving day. A referral prompt once utilities are stable. A follow-up six months later when the next major financial decision might be on the horizon.

It's frictionless for the borrower and scalable for the lender.

The lender advantage: from transaction to relationship

For lenders, the integration transforms closing from a transaction endpoint into a relationship milestone. Instead of handing off the borrower at the finish line, lenders stay present through one of the most stressful weeks of the entire home purchase process.

The outcome:

  • Higher engagement: Borrowers see their lender as a partner in their entire home transition, not just the financing part
  • Stronger loyalty: When you help reduce stress at a critical moment, that relationship becomes emotionally charged—the good kind
  • More referrals: Borrowers who had a smooth, end-to-end experience share that story. They refer lenders who "really took care of them"
  • Repeat business: Top-of-mind borrowers come back. For refinances. For HELOCs. For move-up purchases.
  • Competitive differentiation: Most lenders hand off at closing. You don't. That distinction registers with borrowers

The real competitive advantage: showing up when it matters

The lenders winning in today's market aren't the ones with the lowest rates or the most loan products. They're the ones building deeper, longer-lasting relationships with borrowers—and that starts with showing up in the moments that matter most.

Closing day is special. But it's not the end of the story. It's a milestone in a much longer relationship.

OneSource helps you stay present through what comes next. Total Expert helps you scale that presence across your entire organization.

Together, they transform how lenders think about the post-close window—from a time to forget about the borrower and move to the next deal, into an opportunity to build the kind of loyalty that keeps customers for life.

Ready to turn borrowers into lifetime customers?

The Expert Partner Network connects you with solutions designed for every stage of the borrower journey.  

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Lead Management

Your Pipeline Just Got a Promotion

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Smart routing, contact-centric pipeline management, Journey automation, and real-time pipeline visibility have always been the core of Lead Management. But top-performing originators and strategic sales leaders told us they needed more if they were going to stay one step ahead in the current market. They asked; we delivered.  

Here's what's new in Lead Management.

So, an LOS and a sales pipeline walk into a bar...

Until now, keeping lead stages accurate required manual effort. When a loan moved forward in the LOS, someone had to remember to update the record in Total Expert. That gap between what was happening in the LOS and what the pipeline showed was friction nobody needed—and an opportunity to create confusion among lending teams.

Now, those updates are fully automated. When a loan status changes in your connected LOS, the corresponding lead stage advances in Total Expert. No more manual updates, no more room for error, and your pipeline view stays accurate at all times, so your team spends less time syncing data and more time working deals.

Tap into Lead Management from anywhere, on any device

Lead Management is now available in the Total Expert Mobile App!

Originators can view their leads, create new ones, and log notes and outcomes in Total Expert directly from their phone. Whether they're at a real estate agent’s office, a networking event, or just away from their desk, they have full access to the information they need to follow up fast. Speed to lead is critical, and Total Expert is here to help you outpace the competition.

Journeys that don't make you backtrack

As borrowers progress through automated Journey workflows (opening emails, responding to texts, talking to AI Sales Assistants, and completing key actions), your pipeline can advance right along with them. With a few tweaks in Journey Builder, you can update lead stages automatically to reduce manual entry and increase pipeline data accuracy.

Whose lead is it anyway?

One of the most disruptive things a lead routing system can do is reassign a lead that has already engaged with another originator. But if an owned contact re-enters the system with a different number or email, they might get sent back into the distribution queue instead of connected with the last originator they engaged with.

Lead Management significantly reduces that risk. Admins can configure routing policies to bypass distribution entirely when an incoming lead matches a contact already owned by an originator. That way, relationships stay intact, and your team avoids those awkward conversations about who actually owns the opportunity.

Give referral partners a peek behind the curtain

Referral relationships run on trust, and transparency helps you build and maintain that trust long term. When a referral partner sends you a lead, they deserve to know where it landed, how it’s progressing, and if it led to an application or closed loan.

This gives originators another way to understand who their top referral partners are, who’s providing the most leads, and which ones are converting so they can measure the impact of each referral partnership on their business

Cleaner data, better integrations, more doing what you do best

Lead records now include UTM parameters and additional standard fields, which means better source tracking and more consistent reporting. If you're trying to understand which campaigns, channels, or partners are generating your best leads, this data will give you more to work with.

And for teams using AI Sales Assistant or third-party dialers: lead details like loan purpose, property information, and lead ID can now be included in Outbound Data Connector payloads to give your external tools the context they need to make an impact from the very first touchpoint.

Fully loaded Lead Management

Total Expert Lead Management is built to help turn more opportunities into revenue by assigning leads faster, automating engagements and follow-ups, and giving sales leaders better visibility into what’s working and where the gaps are.  

Ready to see it in action? Schedule a demo or reach out to your Customer Success Manager for more info!

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