Maximizing Value

Meeting Members’ Needs

By Jay Gonzales

For Pima Federal Credit Union, deciding what products and services to offer its members starts with a question that has little to do with selling a product.

It starts with asking what members need.

That philosophy shapes everything from the credit union’s financial offerings to the way employees interact with members, whether that interaction takes place at one of its branches or through a digital channel.

“Our focus is on maximizing value for our members,” said Adam Coggshall, chief credit officer for Pima Federal. “We do that by offering low-cost loan products, keeping fees low and identifying services that fill meaningful gaps in the community.”

“Ultimately, we want to ensure our services truly reflect the needs of the community,” Coggshall said. “That is our purpose. It is why we exist, and it is woven into who we are.”

That approach reflects a broader effort at Pima Federal to make the member experience the starting point for decisions about the credit union’s products, services and delivery channels.

CEO Eric Renaud said the credit union had a strong member focus when he took the job in 2016, but he believed it needed to do more to give people a reason to choose Pima Federal.

The answer wasn’t simply to offer more products, he said. Instead, Pima Federal has sought to create an experience in which members can get the financial services they need while having access to people who can help them navigate those choices.

“In banking, strong service is often tied to retaining and growing client relationships, and many bankers are rewarded through sales incentives,” Renaud said. “At Pima Federal, our member service representatives are not measured by whether they sell five checking accounts or earn a bonus for doing so.”

That distinction is important, Renaud said.

Celyna Cervantes, EVP, chief growth and strategy officer, said serving members is often less about a particular financial product and more about understanding the circumstances behind the need.

“Exceptional service begins with truly understanding our members and our community,” Cervantes said. “Our goal is to recognize what people need sometimes before they realize they need it and be ready to help.”

That philosophy also influences how Pima Federal approaches its digital services. Not every member wants or needs face-to-face interaction, and Pima Federal recognizes that convenience is an important part of modern banking, whether it’s with a bank or credit union.

Sarah Holt, who oversees the employee culture at Pima Federal, said the goal is to give members a choice without losing the personal element that distinguishes the credit union.

“The beauty of our approach is that we can serve members in the way that works best for them based on their preferences, circumstances, location or whatever else shapes how they choose to connect with us,” Holt said.

That means technology isn’t viewed as a replacement for people. Instead, it is another way for Pima Federal to deliver the same member-focused philosophy.

“We’re focused on ensuring our technology is designed around our members’ needs − fast, easy to use, efficient and as seamless as the apps they and their families use every day,” said Bruce Barnett, Pima Federal’s chief technology officer.

When Coggshall talks about “gaps,” one big one that Pima Federal is addressing is the ability of the first-time homebuyer to buy a home in a market where the average sale price is roughly $325,000, according to Zillow, the popular property search site.

One way is through a loan program Pima Federal participates in, Tucson Welcome Home, with five other local credit unions. The other is to let members know that the decisions on loans – whether for a home or a car − are going to be made locally with a lean toward finding a way.

“Local decision-making is critically important,” Coggshall said. “We’re a close-knit team, and I’ve always encouraged our loan underwriters that when a decision is not clearly yes or no, we should look for every responsible way to make it a yes.

“If we were to experience a loss on an auto loan, it would not define the credit union or jeopardize who we are. What matters is understanding the full story. When the circumstances make sense, we consider those qualitative factors and make a thoughtful, informed decision.”

Pictured above – Adam Coggshall, Chief Credit Officer, Pima Federal Credit Union; Celyna Cervantes, Executive VP and ChiefGrowth & Strategy Officer, Pima Federal Credit Union. Photo by Brent G. Mathis

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