It's There But Can They Find It? Recent Survey Reveals Continuing Issues With Web Site Organization

Online members turning to their credit union web site for answers sometimes encounter difficulties finding the information they need. When asked, how well their credit union's web site was organized so that they could quickly go to the information that they needed, only 30% said the site was very well organized. Ratings for the Survey Consortium credit unions varied greatly, ranging from 24% up to 46% of online members saying their site was very well organized.

 
 

Online members turning to their credit union web site for answers sometimes encounter difficulties finding the information they need. When asked, how well their credit union's web site was organized so that they could quickly go to the information that they needed, only 30% said the site was very well organized. Ratings for the Survey Consortium credit unions varied greatly, ranging from 24% up to 46% of online members saying their site was very well organized.

However, credit unions who received higher ratings for their web site organization enjoyed benefits across all usage categories, as their members more frequently conduct activities such as checking rates, learning about special promotions, and using information tools such as financial calculators, mortgage loan information, and auto loan information.

Member comments provide insight into the types of information they found difficult to find. Surprisingly, many comments were made regarding basic information such as ATM locations, branches and other contact information that members could not easily locate. Other types of information that were missing or hard to find include check ordering information, changing addresses, credit union forms, account logins, rates. Illustrative comments are shown below:

Too many clicks required in general - sorry, but I don't use your site for financial information in general because I can never remember where to find it.

Just tried to see what is available. Services are not arranged alphabetically, or any other logical sequence that I can determine.
Cannot find information about re-financing to take advantage of changing interest rates. Even a simple, ''Sorry, we don't do that.'' would be helpful.

Getting ATM locations could be easier.

Home page should flash any special/significant offer packages for the benefit of CU members.
I found out that the Real estate dept was running a special no closing cost for refinance but it was not on the Web site.

As mentioned in an earlier article, online members are turning to their credit union web site with great frequency. Yet these comments show that many credit unions are not ensuring that the web site contains updated information. Why meet the needs of this segment? In addition to the cost savings obtained from moving members from the more costly telephone or in-person channels, the web channel provides other advantages. Although the size of the online member segment varies by credit union, online members also offer a great opportunity for credit unions trying to increase their member's reliance on them as their primary financial institution. Online members tend to be loyal credit union members. Half had been with their credit union for more than eight years.

On average, online members reported using 4.8 credit union services. However, penetration rates for services such as mortgage loans, CDs, and IRA accounts were fairly low, with one-tenth or less of the e-members using them. Penetration rates for different products across the Survey Consortium credit unions varied. For example, for credit cards, the average proportion of online members with credit cards was 46%, but the individual credit union percentages ranged from 25% to 74%. Clearly some credit unions are doing a better job of promoting their services to their online members than others.

How well is your credit union meeting the needs of your online members?


Survey findings are based on a recent online survey of 13,919 credit union members from across the U.S. as part of Callahan & Associates' Survey Consortium, a shared cost survey group consisting of 19 leading credit unions nationwide. The survey was placed on the Web sites of participating credit unions in January 2003.

Need help designing a survey to understand your online member needs? Callahan's Survey Consortium is a credit union partnership that surveys online members on a quarterly basis. Member credit unions share online strategies and ideas for enhancing online services.

For further information regarding this survey or Callahan's Survey Consortium, please call Denise Senecal at 800-446-7453 or click here

 

 

 

Feb. 17, 2003


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