The community experience people love about credit unions is created by you – the people who work there. Trust is of the utmost importance when it comes to people’s finances and that trust comes from the service you provide and willingness to go above and beyond. One way to improve the experience for your members is to embrace innovative solutions in today’s banking world. Using data and customer feedback, you can customize the customer experience that has real value for members.
Embrace financial technology
New applications can help meet customer demand for on-the-go service and improve member satisfaction. Some financial technologies include mobile payment options, updating systems to new formats, biometrics and customer data for bank marketing. With new solutions on the market, credit unions can integrate new strategies for your customer base. While this is a more difficult time for some credit unions than others, COVID-19 has shown the need for digital infrastructure to keep members happy.
Whether it’s online shopping, streaming platforms or self-checkout at the grocery store, people want to be able to do things themselves on their own time. Today’s members are more self-reliant due to digital offerings that allow us to order products and services whenever we want.
Credit unions should leverage opportunities to provide self-service support so members can find what they’re looking for without any bottlenecks. Provide FAQs, online products to execute transactions and easy access to support. It definitely becomes essential after business hours and the weekends. There’s no need to shuttle customers down a path to visit a branch, or make a lot of calls to answer questions and do business.
Segment member data for personalized experience
There is a massive amount of customer data that can be utilized to personalize experiences. From messaging and communication preferences to individualized interactions, members are more likely to feel valued with their engagement with your credit union. Plus, customer data helps better target products and services. Using a data-driven approach to understand members’ pain points will proactively solve problems.
Stay consistent across touch points
Providing consistent and up-to-date information across channels is a challenge for many financial institutions. But, it’s needed to remain competitive in today’s banking world. An increasing number of consumers are using non-bank financial companies for their financial needs. Design experiences around every touchpoint where your credit union interacts with members – email, phone, text, mobile devices, desktop, social media, etc. – and map out how to remove obstacles and deal with potential challenges if any arise.
Our team helps credit unions focus on serving its members by providing a suite of products and services that take the complexity of common and uncommon challenges. Learn more on how we can enhance your member experience.