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Conference 7.286::dcu

Title:	DCU
Notice:	1996 BoD Election results in 1004
Moderator:	CPEEDY::BRADLEY

Created:	Sat Feb 07 1987
Last Modified:	Fri Jun 06 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1041
Total number of notes:	18759

788.0. "Question re decline in DCU membership" by TOOK::MORRISON (Bob M. LKG1-3/A11 226-7570) Thu Mar 24 1994 13:33

  I have a question that occurred to me in response to both the campaign
statement by Phil G., Dave G., and Chris and their rebuttal statement.
It is said that DCU membership has declined rapidly (about 10,000 members in
calendar year 1993). My question is, has membership declined more rapidly than
Digital's U.S. head count during the same time period? Of course, people can
stay on as DCU members after they leave Digital, but it's usually impractical
to do business with DCU after leaving Digital because it means visiting 
Digital facilities, which most former DECcies prefer not to do. Even though
DCU has made a great effort to make its branches and ATM's accessible to non-
employees, most former DECcies would have no reason to visit Digital plants
other than to go to the DCU, and can more easily (in terms of incremental
travel time and distance) do their banking at commercial banks and S&L's or
at their new employer's credit union (if there is one). So I would not con-
sider a decline in DCU's membership to be of great concern unless it is greater
than the decline in Digital's U.S. head count.
  Of course, the ideal situation would be for DCU to increase the percentage
of Digital employees who are members.

T.R	Title	User	Personal Name	Date	Lines
788.2		PACKED::COLLIS::JACKSON	DCU fees: Vote	`Thu Mar 24 1994 16:38`	21
	I think the loss of 10,000 members in the past year is a bit misleading, even though it certainly is true. There are a number of factors: - accounts that should have been addressed for years (because of below minimum balances) that were not - layoffs - relationship banking - competitive rates Exactly how much of a factor the last three were is very hard to say (the first was evidently a factor in over 7,000 accounts); there is anecdotal evidence but no hard numbers. At any rate, I continue to be disappointed in the choices of my credit union and this is the most important factor for me. Collis
788.3		TOOK::MORRISON	Bob M. LKG1-3/A11 226-7570	`Thu Mar 24 1994 17:22`	8
	> - accounts that should have been addressed for years > (because of below minimum balances) that were not Are you saying that at the start of 1993 there was a backlog of accounts in which people has less than the minimum balance for DCU membership but DCU had put off closing them, and DCU closed a large number of these accounts in 1993? If so, that changes the picture quite a bit.
788.4		PACKED::COLLIS::JACKSON	DCU fees: Vote	`Thu Mar 24 1994 18:18`	9
	>Are you saying that at the start of 1993 there was a backlog of accounts in >which people has less than the minimum balance for DCU membership but DCU >had put off closing them, and DCU closed a large number of these accounts in >1993? Yes. And finding out about them was like pulling teeth. Collis
788.5		WLDBIL::KILGORE	Time to put the SHARE back in DCU!	`Fri Mar 25 1994 11:10`	13
	Well, Collis, what did you expect? I mean, it would look pretty silly, if not downright dishonest, for management to use a lot of small, costly, "abusive" accounts as a justification for the "fairness" of Relationship Banking, and then turn around and admit that a huge number of those accounts were a result of less than optimal bookkeeping. Geez, members might get the notion that management and all those qualified, financial-type directors missed a really obvious problem; worse yet, they might get the notion that all those "abusive" accounts really didn't cost enough to raise a flag a long time ago.
788.6		PACKED::COLLIS::JACKSON	DCU fees: Vote	`Fri Mar 25 1994 13:10`	1
	I expect truth, honesty and fairness.
788.7	On the former decline in membership	CADSYS::RITCHIE	Elaine Kokernak Ritchie, 225-4199	`Thu Aug 31 1995 21:11`	12
	In note 924.11 on July 27, 1995, I noted: >> And...for the first time in a very long time, DCU gained more members than we >> lost for the month. This was as of the end of June. This upward trend continued during the month of July, with a net gain of nearly 100 members. It is unfortunate that we have had to lure people back after scaring them away. But it is obvious that, with proper management, it's not that hard to do! Elaine
788.8	It's the little things that count	MOLAR::DELBALSO	I (spade) my (dogface)	`Thu Aug 31 1995 23:49`	4
	FWIW, a good friend of mine who voluntarily left DIGITAL and DCU two years ago, just rejoined DCU solely on the basis of there being a convenient ATM now at Cotton Road.