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SEDONAs clients see 6 increase in new member retention
KING OF PRUSSIA, Pa. (5/19/09)--SEDONA Corp. has introduced a new customer relationship management (CRM) and member relationship management (MRM) solution to help credit unions acclimate new members. CRM and MRM help automate new member boarding processes so staff members can focus on serving members instead of administrative tasks. Credit unions often experience a “honeymoon period” with new members, in which the credit union works to secure its newly formed financial relationship. The first few weeks and months of the new relationship are critical, SEDONA said. “It can take up to six years to recoup the cost of acquiring a new credit union member,” said Matt Keegan, SEDONA regional sales executive. About 58% of credit unions surveyed by Aite Group indicated they are experiencing growth due to new members. CRM and MRM have helped credit union clients experience up to 6% in new member retention, SEDONA said. SEDONA is based in King of Prussia, Pa.


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