Oct. 23, 2006


Comments

 
 
 
  • It seems like technology could help in this effort by both providing relevant member information to member service reps and prompting them to ask insightful questions that will advance the relationship. Are credit unions investing in capabilities such as these?
    Anonymous
     
     
     
  • Studies have shown that a member’s loyalty is directly impacted by their perception of a credit union’s products/services, price and support. Surprisingly, a recent study by CRM GURU of the banking industry found that customer loyalty is most impacted by support. That’s good news for us vendors out there focused on technology to improve member care. We like to say that loyalty must be earned every day, but looking at things more closely, it really comes down to every interaction, and one bad one can destroy lots of previous good work. As such, it is critical for credit unions to have the technology and people in place that can provide a quality support experience across all channels and from all staff. It is also critical to accept that no matter what you do, bad member experiences will still occur, and what is truly critical is how you respond. Take a moment to consider the following: Is it easy for members to tell you when they aren’t happy? How quickly do you respond to the feedback and what is the response? Do you look at feedback in aggregate to determine if systemic issues exist that need to be addressed at the root cause rather than on a case-by-case basis? Interactions that form either negative or positive impressions, some call them the "moments of truth," will leave indelible impressions with your members and serve as the foundation for how members perceive whether you have earned their loyalty…until their next interaction tells them otherwise, that is!
    Chuck Van Court
     
     
     
  • In response to the first comment, yes, technology does help credit unions organize their data. Two examples of this will be discussed on the upcoming webinar - one credit union uses Connections Online to keep all their employees informed and up-to-date on all aspects of member loyalty and satisfaction. Another credit union uses Deluxe to identify where quality improvement measures are needed. I think that by learning about the options available to credit unions (especially what has worked for your peers), credit unions can create programs unique to their credit unions' needs.
    Debra Sondak