Credit Union Overcomes Hesitation to Smash Referral Goal and Reap 3.75-to-1 ROI
Overview
Guardian Credit Union was struggling to compete in its low-income market. Despite internal account referral efforts, it couldn’t effectively track program results. Churn was also an issue, losing 1,300 accounts annually.
Led by VP of Member Services Laura Saavedra, CCUE, BSACS, the credit union knew it needed to drive growth through account acquisition and shut the back door on churn. Initially hesitant to work with an external partner, Guardian realized the value of adding specialized expertise.
Having already achieved success with CSI’s Velocity Consumer Liquidity EngineTM, the credit union turned to another of their programs, the Invitation Checking® System (ICS), to increase referrals, improve tracking and expand financial inclusion in their community. Having the ability to monitor new accounts—tracking performance and engagement—proved to be a key advantage.
Approach
Success first required a cultural shift. Executive buy-in of ICS was crucial to ensure full commitment across the organization.
With leadership on board, the focus shifted to branch-level engagement. A dedicated ICS training team built excitement among frontline staff, who then promoted the program enthusiastically. As they saw its positive impact firsthand, employees embraced the program, recognizing how it added value for members.
Results
Though still in its early stages, ICS has already provided Guardian with results beyond its expectations, including:
A significant jump in referrals from 2023 to 2024, with record results month over month.
Conclusion
What started as hesitation quickly turned into trust and measurable success for Guardian Credit Union and its account referral program. By adopting the ICS program, securing leadership buy-in and investing the time to train and excite employees, the credit union overcame past challenges, improved member loyalty and achieved significant growth.
Guardian continues to build momentum with ongoing support from CSI’s Velocity experts, proving that the right partnership can turn uncertainty into opportunity and help deliver real value to members of all financial backgrounds.