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We make it simple. Becky Nilsen, CEO Desert Schools Financial Services

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Page 1: View Powerpoint presentation

We make it simple.

Becky Nilsen, CEO

Desert Schools Financial Services

Page 2: View Powerpoint presentation

About our Guest Speaker

• 33 years in the CU industry

• Specializes in CUSO start up and operations

• PROCU Board Member

• Director of Kiwanis Club in Phoenix, Arizona

• Previous NACUSO Board Member

Becky Nilsen, CEO Desert Schools

Financial Services

Page 3: View Powerpoint presentation

Agenda for Today’s Presentation

• Overview of Desert Schools Federal Credit Union

• Overview of Desert Schools Financial Services

• Building a successful sales and service culture

• Why is financial education important?

• Desert Schools approach 2004-2006

• Benefits of the existing program

• Educated Investor University and plans for the future

• Making Financial Education Relevant to Sr. Management

Page 4: View Powerpoint presentation

Desert Schools Federal Credit Union

• $2.9B in Assets

• ~344,000 members

• 59 branch locations

• ~1700 SEGS

• Over 1100 employees

• Offers full range of product and services including business lending, financial services, and much more

Page 5: View Powerpoint presentation

Desert Schools Financial Services• Offers insurance, investments and estate planning

• Serve roughly 10,500 members with team of 30 people

• $55M in sales, generating nearly $3M in non-interest income in 2006

• Built on a platform of Strategic Partnership– Linsco Private Ledger

– Estate Preservation Services

– Southwest Business Corporation

– Precision Information, LLC

Page 6: View Powerpoint presentation

Building a Sales and Service Culture

• Helping to educate and empower credit union employees to connect members with services they need.

– 2004: 3000 referrals, sales of $20M, GDC of $800K

– 2005: 5500 referrals, sales of $40M, GDC of $1.6M

– 2006, 9500 referrals, sales of $55M, GDC of ~$3M

• Partnership of senior management, training and Precision Information to help achieve key goals.

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Why is Financial Education Important

• Vast majority of American’s (and CU employees) don’t understand financial terms and concepts.

– According to Securities Industry Association annual survey over 67% of people say they don’t know enough to make a sound financial decision

• People simply will not recommend or refer products or services they don’t understand. Education is KEY.

• By educating employees DSFS has helped to give them the confidence to provide referrals

Page 8: View Powerpoint presentation

Desert Schools Approach 2004-2006

• Starting in 2004, DSFS began to offer a Personal Finance Certificate to employees

• Program offered 18 online courses related to investing basics, retirement and related areas

• Over 600 people have completed one or more course

• Over 110 people completed certificate program

• All graduates go thru “cap and gown” graduation ceremony and receive recognition in front of peers

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Benefits of the Program• Educated employees are more comfortable and

confident dealing with financial issues

• Confident employees are more likely to be positive, productive employees (lower turnover, more referrals)

• Availability of Certificate Program from 2004-2006 has raised awareness of investment services even among employees who have not yet completed their degree

• Since launching the program referrals have grown from 3000 in 2004, to 8000 in 2006. Sales have grown from $20M to $55M, and profits increased by 300%.

Page 10: View Powerpoint presentation

Plans For the Future Leveraging the NEW Educated Investor University Platform

• The newly released Educated Investor University platform now offers employees access to over 100 online tutorials (more than 500% increase)

• Now able to offer courses in all areas of personal finance, investing basics, retirement and wealth management giving broader usage for entire CU.

• Also offers more robust student management, reporting functionality and pre and post-test options

Page 11: View Powerpoint presentation

Plans For the Future Leveraging the NEW Educated Investor University Platform

• In February offered a Retirement Readiness program targeting 500+ branch managers and front line staff

• Over 500 employees have taken pre-test with roughly 482 passing the course so far.

• Pre-test scores averaged 60%. Post test scores of 78% (18% improvement in 2-3 weeks)

• Overall user satisfaction ratings of roughly 85%. Individuals who took course say they are more likely to recommend course / provide referrals

Page 12: View Powerpoint presentation

Making Financial Education Relevant to Senior Level Management

• Financial education is important. Not only is integral to the mission of all credit unions, but educating our own employees is critical to helping us serve our members

• Simply put, an educated employee is a better employee. They are more likely to:

– Be more comfortable and confident in their own lives

– Have the knowledge they need to provide sales and service

– Employees will invest their time with organizations that invest in them and their own well-being (higher retention rates)

Page 13: View Powerpoint presentation

Shared Experiences, Questions and Peer-to-Peer Learning Opportunity

• Please take a minute to share any ideas, inputs or shared experiences with the group (1-2 minutes each)

• Also feel free to clarify any areas in which you might have questions or want ideas / input from peers

• After the call, we will send out notes clarifying key points covered today, and documenting any questions that we were unable to fully answer today