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Agenda

Desert Schools Case Study – Incorporating Financial Education into a Highly Successful Sales & Service Program “An educated employee is our best employee” – Becky Nilsen, CEO, Desert Schools Financial Services - . Agenda. Background Information on Desert Schools

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Agenda

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  1. Desert Schools Case Study –Incorporating Financial Education into a Highly Successful Sales & Service Program“An educated employee is our best employee” – Becky Nilsen, CEO, Desert Schools Financial Services -

  2. Agenda • Background Information on Desert Schools • Why did Desert Schools provide employees with financial education training? • What forms of financial education are provided? • How was the financial education promoted? • Recap of the results of the program • Q&A

  3. Background Information Desert Schools FCU: • $3 billion dollars • 61 branches in Arizona • 352,000 members • 1,300 employees / 1,040 FTE • “Appropriate” Selling is Good Service!

  4. Background Information Desert Schools Financial Services: • Offers insurance, investments and estate planning • Serves roughly 10,500 members with team of 30 people • $55M in sales, generating nearly $3M in non-interest revenue in 2006

  5. Why provide financial education to employees? • In 2003, senior management realized lack of financial knowledge was not only a “member education” issue. Employees needed help too. “Employees will not recommend or refer a product or service they don’t understand” - Becky Nilsen, CEO Desert Schools Financial Services -

  6. Why provide financial education for employees?3 Year Performance

  7. Building a Sales & Service Culture • Helping to educate and empower credit union employees to connect members with services they need. • Partnership of senior management, training, and the Educated Investor team to help achieve key goals.

  8. Building a Sales & Service Culture Desert Schools Virtual University: • Internal education offering 10 degree programs • Develop technical competence to drive business goals • Blended learning approach • Degrees are used to promote within • Celebrate success!

  9. Evolution in Financial Services Training • Education on CD • Online tutorials for employees & members • Seasonal product knowledge • Integrated marketing campaign • Robust online degree programs

  10. Education on CD • Provided financial services education to employees and members • Quick deployment for staff • No tracking and accountability • In-frequent updates

  11. Online Tutorials • Transferred tutorials from CD to DSVU server • Deployed tutorials through DSVU and tracked scores • Placed the same content on the company website for members

  12. Online Tutorials-Results • Personal Finance Certificate Program offered 18 online courses related to investing basics, retirement and related areas • Over 200 people completed certificate program • Helped drive 15,000 referrals and $100M in sales

  13. Seasonal Product Knowledge • Reinforced IRA knowledge for front line staff in March to prepare for tax season questions • Mandatory training modules online • New Educated Investor University format • Custom landing page

  14. Retirement Readiness– Results

  15. Integrated Marketing Campaign • Q3 Campaign Targeting Financial Services • Customized tutorials to support staff knowledge

  16. Integrated Marketing Campaign– Results

  17. Robust Degree Programs Online • Three complete degree programs • Personal Finance • Investing basics • Retirement & Wealth Management • Each degree consists of 15-20 hours • Online access anywhere, anytime • Updated Information

  18. Recap • 3,000+ Courses Completed • 800+ Employees Completed Courses • 1,200+ Employee Interactions • 7,000+ Training Hours

  19. Desert Schools Case Study –Q & A

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