Case Study: How First Tech CU Overcame the
“I-m not on the Net” or “I don’t trust the Net” Sales Objection

First Technology Credit Union (Beaverton, OR) www.1sttech.com is well known in online financial circles as a technology innovator. As Microsoft’s credit union, it’s a necessity. However, not all of the company’s consumers are connected to the Net, and some have been reticent to take the leap due to security concerns. First Tech offered dial-up character-based home banking via VT100 emulation terminals long before a Web-based product was available.

When evaluating how to migrate its dialup base to a browser one, the company ran into a pair of speed bumps: some users hadn’t yet signed up for an ISP, while others were too intimidated to conduct financial transactions on the Net. To solve both problems, First Tech teamed up with ISP (Internet service provider) Easy Street (Portland, OR) to offer Net access for a discounted rate of $15.50/month compared to the normal $19.95/month. First Tech buys the service from the ISP at an undisclosed wholesale rate and handles billing for its members on a single, consolidated monthly statement. Member can also earn an additional $1/month discount for accepting an electronic bill.

To provide browser-based connectivity for members who don’t want full Net access or who were had security concerns about the Internet banking connection, another alternative was created. These members are sent a CD with a pre-loaded dialing configuration that connects to the credit union via a non-Internet connection from the ISP. The CU has effectively removed connectivity issues from the list of member objections to Net banking.

Note: Concentrex uses 800 Support.

The screenshot right shows how the CU uses pop-up windows for Webmail input. Each department has its own Webmail address.