Staffing Gaps, Consolidation, And Member Complaints

Five can't-miss data points featured this week on CreditUnions.com.

 
 

This week, CreditUnions.com looks at filling staffing gaps, credit union consolidation statistics, and handling member complaints.

Here are five data points you can't miss:

2011

Back in 2011, Wright-Patt Credit Union's executive team realized it needed to take a fresh look at how to manage both the seasonality of the business, including summer vacations and recurring employee turnover, as well as the daily ebbs and flows of member-facing positions.

To address these recurring challenges, WPCU created a floater pool to cover short-term staffing shortages in member-facing positions at its member centers. The team is made up of seasoned financial coaches — WPCU’s term for employees who help members choose and manage their products and services — and member experience representatives — WPCU’s term for tellers.

Learn more about these teams and how they ease the burden of constant recruiting in "How To Fill In Staffing Gaps With A Roaming Team."

10,494 and 6,011

Those are the number of credit unions in 2001 and 2016 respectively. To learn more about how credit unions, assets, and member relationships have evolved in the past decade and a half, read "15 Years Of Credit Union Consolidation."

30%

Nationally, non-interest income makes up nearly 30% of total credit union income, a significant portion that many credit unions look to maximize without inundating members with fees.

The Callahan Collection, "6 Ways To Boost Non-Interest Income," features ways credit unions are driving non-interest income, including fee strategies, secondary market sales, and more.

8/100ths

That's the average margin of victory for the 2016 Texas Rangers, the team with the best record in Major League Baseball's American League. 

With 95 victories, the team's average loss was greater than the minimum of one run a game.  In fact, their average losing margin had to be greater than their average margin of victory.

Of course, offense in baseball is not a finite resource. Runs are not zero sum with each team given only a limited supply. By that measure, the Rangers have been paragons of efficiency, rarely scoring more than the minimum necessary to accomplish their ends. As a movement, credit union's are like the Rangers. 

See more links between America's pastime and credit unions in "Baseball Teams And Credit Unions Can Win At The Margins."

23

Through the first three months of 2016, 23 consumers had filed a formal complaint via the Consumer Financial Protection Bureau’s Consumer Complaint Database against BECU. That’s roughly one complaint for every 41,000 of its members.

Of course, not all complaints against the institution go through the CFPB — rather, BECU uses a customer relationship management (CRM) system to track and organize all member feedback through its branch network, call centers, social media channels, and Net Promoter Score surveys — and not all of the feedback the credit union gathers is complaints.

In "A Complaint By Any Other Name Is Member Feedback," BECU provides three of its best practices in resolving and managing complaints.

Happy Reading!

 
 

Oct. 17, 2016


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