Consumer Sentiments And Employee Insights (3Q 2016)

Real comments from online review sites to inform strategies, policies, and practices.

 
 

Comment

“A typical day consisted of hardware/software support and assisting end users in various departments and branches with issues. The manager spoke negatively about employees to other coworkers, which resulted in low morale. The salary was very low in comparison to other banks, public and private sector. In a field where technology is ever-changing, training was not offered or encouraged in order to assist employees in advancing.”

— Anonymous, Indeed.com

Lesson

Nothing spoils the work party like the boss openly trashing co-workers. Office morale is obviously important to this former IT employee, who mentioned it even before pay and training. Study after study shows workplace culture and atmosphere matter as much as if not more than money. This credit union would do well to provide training or training compensation and quit playing favorites.

Comment

“My manager listens to and considers my input when making decisions. I am very proud of the success [credit union] has achieved and how the organization has changed/progressed over the past several years. Everyone has the same chance to be recognized for their hard work every month with acknowledgement to the whole credit union.”

— Anonymous, GreatPlaceToWork.com

Lesson

This comment came from an anonymous survey, and sounds like the credit union is hitting the sweet spot for employee satisfaction in two important ways: It makes employees feel like both their input and their work matters. That’s how you get buy-in. And employees like these tend to treat members like a member-owner should be treated.

Comment

“I have had [credit union] for a little over three years, and I have received excellent service the entire time. I don’t even know what my credit score was when I first opened an account with them, but I do know that I had negative remarks on my banking report from past issues with Bank of America and Wells Fargo. They let me open an account anyway, but I had a 10-day hold on checks and was not allowed to use courtesy pay. I’ve managed the accounts responsibly, they’ve lifted those restrictions, and even given me an emergency loan when my paycheck was $500 short what it should have been. They let me turn that courtesy pay into a loan as well, and I paid it off over six months. I cannot recommend them highly enough.”

— Anonymous, CreditKarma.com

Lesson

This credit union gave its member access to important financial services while at the same time offering a path to financial wellness. The member chose to take that path, and now the credit union has a responsible, committed advocate, who, not coincidentally, is using some of the more profitable products and services a credit union has to offer.

Comment

“My issue with [credit union] is that ATM transactions are not consistent. For example, if my direct deposit is $1,000 and I withdraw $300, when I check my balance it still states I have $1,000 in there. If I check it again, it’ll tell me I have $700. Then check it again after purchases online, and it still reflects a balance of $1,000. The automated system is faulty. I feel as though this is a racket in order to apply overdraft charges. When I addressed this issue with the credit union I was told I should keep up with my transactions to avoid being overdrawn. I am not the financial institution. If you aren’t able trust the credit union to do right by its customers, then what is one to do?”

— Anonymous, DepositAccounts.com

Lesson

The member doesn’t care about the system behind how a credit union processes deposits and payments, she or he only cares about the balance being right whether online, on the phone, or in the branch. It’s perhaps understandable that a batch-processing credit union would take time to catch up on transactions, but that’s no excuse for inconsistencies. And telling the member to keep track of the balances themselves is tantamount to showing them the door. If encouraging better financial habits is the intent with that strategy, then there’s a better way to communicate that.

 
 

Dec. 1, 2016


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