Case Study: Mountain America Credit Union

Mountain America Credit Union

Insurance Evaluation

  • Assets: $15,611,576,241.00

  • Members: 1,098,925

  • Headquarters: Sandy, Utah


As the second largest credit union in Utah and the 12th largest credit union in the U.S., Mountain America Credit Union is dedicated to guiding members to define and achieve their financial dreams, ultimately improving members’ lives. Their network covers much of the Intermountain West; including Utah, Arizona, Idaho, Montana, New Mexico, and Nevada. With more than 1,000,000 members, 100 branch locations, over 50,000 ATMs nationwide, Mountain America Credit Union thrives on a mantra of guiding members by offering convenient, flexible products and services, as well as sound, timely advice.

“Today, our essence — guidance — remains the focal point of our identity. It’s a purpose-driven identity to ensure that everything we do moves you safely along your journey.”

Mountain America Credit Union is committed to “people helping people.” Founded during the great depression, they became known for supporting the communities they serve, and do so with the same dedication today as they did back in 1936.

Continuously bringing value to the areas where their members live, work and play, Mountain America Credit Union is proud to contribute to financial literacy efforts in schools and support many non-profit organizations. They offer higher education scholarships and grants, sponsor teams, events, and organizations within the communities they serve, and offer online content to help members manage their money and stay involved with their community.

There are additional benefits to membership at Mountain America Credit Union – including low loan rates, high savings dividends, and the latest banking technology, among many others.

Mountain America Credit Union

In a world where we do our best to plan ahead and expect the unexpected, it helps to have peace of mind knowing our loved ones are protected. Mountain America Credit Union offers insurance policies that do just that – and they help their members understand the benefits and purpose of the policies they offer. Approaching the renewal requirement for their Accidental Death and Dismemberment (AD&D) program, Mountain America Credit Union realized it was a good time to complete a full program analysis. Rooted in their dedication to helping members achieve their financial dreams, the credit union was determined to understand the merits of AD&D coverage and whether the program was paying sufficient claims. The team at Engage fi was brought in to help evaluate the current program performance, identify any potential opportunities for improvement, and conduct a request for proposal (RFP) with multiple vendors. The ultimate goal for the project was to determine the value of AD&D to Mountain America Credit Union and its members, and if this program were to continue, who would be the best partner. To conclude the project, Engage fi also participated in additional negotiations with the vendor of choice.

Through the strategic partnership between Engage fi and Mountain America Credit Union, a detailed analysis was completed and several goals for this project were identified. Based on their desire to help members, the most critical objectives were to provide additional product education, better self-serve options online, and improved policy benefits. The credit union was also interested in favorable contract terms, financial incentives, and ongoing program support.

As with any good project, a SWOT analysis was done, and several obstacles were identified. The contract renewal deadline was approaching, vendor proposals differed greatly in design and pricing, and there was the challenge with members not understanding the difference between AD&D and standard life insurance coverage.

Partnering together, Mountain America Credit Union and Engage fi worked to address these threats and create a plan of action.  Engage fi employed their industry expertise and negotiation skills to effectively analyze the proposals, critique the assumptions, and forecast long-term program success. In addition, the engagement and sincerity of the Mountain America Credit Union team contributed significantly to the realization of this project.  The entire group was invested in making the best decision for the credit union and their members

Case Study: Mountain America Credit Union

The project scope was complex, but it yielded huge results. Not only will Mountain America Credit Union continue to offer AD&D to its members, but the future program will better meet their needs. It is expected to have a 24% increase in profits. The list of accomplishments that came out of this project include more favorable contract terms and financial incentives, broader online support and virtual member engagement, and most importantly, additional benefits for members with the opportunity to pay more claims.

Overall, the new AD&D program at Mountain America Credit Union will align closely with their strategic goals.  Improved policy benefits, streamlined claims processes, and thoughtful program design, will ensure that members understand the program and experience excellent service during the lifecycle of the policy.  The credit union can feel confident they are offering the best product to their members, while improving the bottom line so they can continue investing in serving their members.

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