Methods To Root Out Inefficiency - Baxter Credit Union

Bob McKay, executive vice president and chief operating officer at Baxter Credit Union ($1.6B, Vernon Hills, IL), shares how the credit union reviews its process efficiency. McKay reviews the net promoter score and offers an example of how the scores and the credit union’s surveys helped improve issues in the mortgage department

 
 

 

0:00 – 3:27 Leverage Member Feedback To Achieve Efficiency
Baxter Credit Union’s executive vice president and chief operating officer, Bob McKay, provides an overview of the credit union and outlines the credit union’s process to capitalize on member feedback.

3:27 – 5:40 Net Promoter Score
McKay explains the credit union’s methodology, which measures member loyalty, and how the program provides operational feedback.

5:40 – 9:20 What To Measure
McKay offers a list of what to look for, such as what the credit union is doing to hinder its own success, and shares a visual that breaks down the problems currently in the credit union’s queue to solve.

9:20 – 12:51 Example – The Mortgage Process
McKay describes how the credit union used its member survey results to identify a problem in its communication between members and the mortgage department. Problem identified, it was then able to focus on solving the issue.

12:51 – 17:31 Effects Of Problem Solving
McKay reviews lessons the credit union has learned, including efficiency is money. It should save $545,000 over the next three years from its process improvements.

17:31 – 19:58 Q&A
Comparing net promoter scores with peers; focusing on big picture versus smaller processes.

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May 17, 2011


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