“Scott provided exceptional value…to think through strategic decisions, leadership, and addressing the challenges in growing our business.”

Restoring Growth with a Member-Centric Culture

The Need:

GTE Financial is one of the largest credit unions in the country, in the top 1% for membership. But it emerged from the global financial crisis posting losses over $70M. A new CEO, Joe Brancucci, was charged with leading the company to solid ground.

Growth became a main focus, to be achieved by: 

• Prioritizing increased membership as the foundation for growth
• Creating a member-centric culture
• Empowering employees at all levels to improve processes, make decisions, and ultimately deliver “WOW!” experiences

The Solution:

When Scott began working with the CEO on a strategy to grow the business, one factor was important in positioning the company for future success: member growth. Key to achieving that goal was increasing employee engagement.

As Executive Advisor to the CEO, Scott helped by:

• Focusing on strategies to grow the business, anchored in establishing a culture of high performance and member centricity
• Communicating a strategy for revitalizing the company
• Emphasizing moving more aggressively into lending as the cornerstone of member service
• Aligning the leadership team on employee engagement and culture initiatives
• Facilitating alignment with the board of directors on the growth strategy, as well as improving board effectiveness

The Results:

• Membership bounced back from -6% annually to +9% growth.
• Volume on mortgages increased by 16%, and auto loans skyrocketed by over 60%.
• Net Promoter Score—a measurement of membership satisfaction—rose from the 60’s to consistently in the 80+ range.
• GTE Financial’s Net Worth Ratio, a calculation similar to Retained Earnings that demonstrates strong capitalization, increased from a borderline risky 6.37% to a robust 8.25%.