The Savings club account is a free account that provides clients with the opportunity to place funds into an account where their money is held for a specific saving purpose (for example: taxes, vacation, holiday gifts, birthdays). The funds are automatically distributed either through an automatic transfer or a mailed check.

Note: To be eligible to open a Savings Club account, the client must have a personal CCB checking account.

When you discuss Savings Club accounts, do the following: 

1. Discuss Features and Benefits

   In order to feel comfortable selling products or services or even referring individuals to CCB, it helps to know what the product or service is (feature) and how it helps individuals (benefits). Below are the features and benefits of the Savings Club account.

   
   

   Features

   • Only $10 to open
   • Only allows one withdrawal per year
   • Daily compound interest, paid quarterly
   • FDIC insurance
   • Client chooses the distribution date from 4 convenient options

   
   

   Benefits

   • Make money from day that the money is collected
   • Save more money and use it as intended
   • Make money as you save
   • Gives peace of mind by providing protection

2. Identify Opportunities

   Always be on the lookout for individuals who may need a savings account. Most people like to have a nest egg or plan for the future. Below are examples of prospective clients.

   • Holders of non-interest bearing checking accounts who have balances higher than what they normally use
   • Individuals who desire to accumulate funds for a specific purpose and keep it separate from their checking account
   • Clients who prefer a secure and insured vehicle for saving
   • High discretionary income individuals
   • Business clients and prospects wishing to earn higher interest on excess funds
   • Individuals who need a place to keep money so it is not readily accessible

3. Discover Client Needs

   Before you recommend a product or service to a client, prospect, family or friend, it only makes sense to recommend things they might actually need or like. This is why it's important to ask questions that help us gain insight about an individual's banking preferences.

   
   

   Sales Associates

   To identify the best savings vehicle for each prospect based on his or her needs, you need to ask some discovery questions. Some examples include:

   • Tell me about your current savings and investment plans.
   • Are you interested in learning about ways to earn more interest on your money?
   • I noticed you have $10,000 in your checking account. Do you have any plans for these funds? 
   • Are you aware that the money in your checking account is not earning any interest? Would you be interested in learning how you can make money off of the money you keep in your checking account?
   • I noticed that your CD is about to mature. Do you have any plans for those funds?
   • Do you have any excess funds that you would like to invest?
   • In general, do you have any expenses that you like to plan for each year?
   • Do you find it difficult to save enough for your vacation?
   • Are you always prepared when tax season comes along? 

   
   

   Non-sales Associates (Take it to 10)

   If you don't feel comfortable with savings account product information, but are working towards your Take it to 10 goals, don't focus on a specific account. Instead, ask if the prospect is interested in opening a savings account at CCB. To do this say:

   I work at Capital City Bank and we offer several savings and investment products, including Savings Club accounts. Would you be interested in learning more about them from an associate of mine?

4. Recommend Products/Services

   When you have identified a need or learned about a prospect's banking preferences, you are ready to make recommendations that align with his or her goals. 

   
   

   Sales Associates

   Below is an are example of what you might say when recommending these savings accounts after you have identified goals and needs.

   Our Savings Club account is a great fit! We ask for only an initial deposit of $10. To help you save, we allow one disbursement per year and you can choose from options; Winter, Spring, Summer, or Fall. Additionally, we offer an optional automatic funds transfer program with this account to help you to save. Your money will earn competitive interest, which will help you with saving for your vacation expenses.

   
   

   Non-Sales Associates (Take It to 10)

   If you are simply trying to make a referral to CCB, then you are recommending the bank, and even a specific banker. Below is an example of how you make this recommendation. 

   I recommend that you check out Capital City Bank. I work there and I know it's a great place to bank. CCB is a stable, community bank that can help you with your savings need. I don't know too much about the various options, but I can certainly connect you with a friendly banker who would be willing to help. His name is _______________.

5. Handle Objections

   It is highly likely that once you make a product or service recommendation, you will receive objections. Before responding, keep the following points in mind:

   • Make sure you understand the question or objection
   • Be empathetic
   • Address the question or objection even if you can't change the product or service
   • Check with the prospect to make sure they accept your response or explanation

   
   

   To respond to objections, use Feel, Felt, Found to structure your responses. Below are examples of checking account objections and suggested responses.  

   
   

   Sales Associates

   Client Objection: "That interest rate is really low. How is that supposed to help me?"

   Feel: I understand why you might feel disappointed by the interest rate.

   Felt: Many of my clients have felt the same way. They do, however, find that this interest rate is comparable to what other banks offer, and interest rates are a reflection of today's economic environment.

   Found: Even though the interest rate isn't what they want it to be, they have found that it is still helpful to open a savings account instead of leaving the money in a checking account, because there are limitations on how often you can withdraw money from a savings account. By placing the funds in a savings account, it makes it easier for them not to spend the funds unnecessarily. How do you feel about that?  

   
   

   Non-Sales Associates

   Client Objection: "Do you have only savings accounts?"

   Feel: I understand that you prefer to have more information about what we have available.

   Felt: I'm the same way and would like to have more information than I am able to offer you.

   Found: However, I can tell you with confidence that we do have more than just savings accounts. We have checking accounts, CDs and investment products, to mortgages. I would love to connect you with a knowledgeable banker who can answer all your questions. What do you say?

6. Ask for the Business

   If you don't receive an objection or have already come to an acceptable resolution with the client or prospect, you are ready to ask for the business. Asking for the business is what we say to move the sale forward. Below are some examples of what you might say to ask for the business.

   
   

   Sales Associates

   • May I open that account for you now?
   • Would you like to open the Savings Club account?
   • Do you want to open the account now?
   • Are you still interested in opening the savings account or do you prefer to explore other options?

   
   

   Non-sales Associates

   If you are making a referral for Take it to 10, you are trying to get the prospect to agree to meet with a banker about a need. Below are some examples of what you might say to do that. 

   • I would be happy to connect you with a banker who can help you. What is your name and number?
   • May I get your contact information so I can have my friend, ___________, call you?
   • Can I get your name and number so I can have a banker call you about opening up your account?
   • May I have a banker call you to help you find the best account for you?

7. Make a Referral

   If you are a sales associate or non-sales associate who cannot open savings accounts, but have identified someone who is interested in a savings account, remember to refer him or her to an associate who can help.

   Making referrals at Capital City Bank is as easy as A B C! Below is an example of the ABC method to making referrals. 

   
   

   Acknowledge or Ask questions about a need.

   Do you have a plan to help you save money for this? 

   
   

   Bridge with a transition statement highlighting how Capital City Bank can meet that need.

   I work at Capital City Bank and we have numerous savings and investment options designed to meet your various goals.

   
   

   Connect to a Capital City Banker that can help.

   Our Personal Bankers can help you find the best solution for you. Would you like for me to have a banker contact you at a time that works for you?

8. Process the Sale

   Sales are processed generally one of two ways:

   • The associate who can sell the product follows established policies and procedures to open a savings account. 
   • An associate connects the person to a qualified banker using a Synapsys referral for the savings account. The qualified associate opens the account.
     
     
     

   Additional Information on Sale Processing

   For personal savings account procedures, see Help U.

   See the Synapsys referral instructions.