Consumer habits continue to evolve, options for financial services have expanded and billions of dollars are being invested in technology to improve the consumer experience. Still, with all of the attention being paid to digital channels and mobile banking strategies, consistent and quality service remains a critical component of member engagement.
According to John M. Floyd & Associates, there are three things credit unions can do to create exceptional experiences to reinforce their “people first” reputation.
1. Maintain a consistent, purposeful member service culture.
To succeed, everyone in the organization must be focused on doing the right thing for members at all times. Credit unions should know their front-line service personnel should have a tremendous opportunity to initiate long-term relationships by understanding members’ most pressing financial needs and questions, and present a credit union’s solutions in a confident, caring and consistent manner.
2. Empower staff to provide excellent service experiences.
Credit unions should involve employees in discussions regarding how to best serve members and encourage their experienced-based input when making decisions on new products and services, or changes to existing procedures. This will create a more collaborative environment where everyone has ownership in how an institution functions while enhancing employee morale.
3. Provide the resources necessary to support member service.
It can be challenging to keep everyone up-to-speed with product updates or new offerings when employees are dealing with multiple responsibilities, or when turnover complicates the ability for credit unions to keep informed employees on the front line. A professional review of existing employee training can uncover potential knowledge gaps or personal biases that were not originally discovered, or thought were too insignificant to address.
Additionally, JMFA suggested credit unions establish a strategy that includes on-site and online training resources to support the different learning styles and work schedules of employees.
About John M. Floyd & Associates
For the past 38 years JMFA has been considered one of the most trusted names in the industry helping community banks and credit unions improve their performance and profitability. Whether it’s recovering lost revenue, uncovering savings opportunities, serving your account holders better or delivering a 100% compliant overdraft program, JMFA has the right solutions to help you not only meet, but exceed, your goals. We are proud to be a preferred provider among many industry groups, including CUNA Strategic Services. To learn more please contact your local representative or call us at (800) 809-2307.