Like last year, 2021’s holiday season is going to present some unique challenges, many of which are – at least in part – caused by the coronavirus pandemic. Labor shortages and supply chain disruptions are going to make for some challenging interactions, and your credit union will not be immune. Here are some ideas for preparing your credit union employees for the holiday season.
Upgrade Your Tech Game
The 2020 holiday season was a record-breaker in terms of tech use. More people than ever turned to online solutions to shop for gifts, check in with family members, and so much more.
IMS Integration is dedicated to creating top-of-the-line tech-based solutions to help keep your credit union ahead of the curve. With items like web loan applications, online account opening, and Skip a Pay, your members can manage their funds at their convenience and adjust their financial plans to accommodate holiday spending and income changes. Our new Infuzion offering is an extremely powerful tool, developed to streamline complex functions without needing to develop scripts or build Java.
What does all this mean? Your employees will have more time to help with other member needs during the holiday season.
Acknowledge Changing Trends in Member Habits
According to PCSU, there are several trends to be aware of so you can meet or exceed holiday goals. These are great initiatives you will want to make sure your employees are aware of and working to educate your member base about.
The first is that October and November are great months for credit line increases, providing members with more flexibility and larger scope and volume of purchases, including lines of credit with the purpose of finishing
The second pertains to top-of-wallet behaviors. November and December are good months to run promotions and campaigns that bring certain cards and programs back as top priorities.
And the third trend is more geared toward the first of the year. In January and February, your employees should turn their attention and focus to offering balance transfers and convenience checks, helping members to find and take advantage of lower rates once the holidays have ended.
Many sources across industry disciplines are reporting that the “holiday season,” rather than being contained to November and December, is actually becoming a 3-4 month endeavor that starts just as August ends.
To help your employees have the tools and resources they need to succeed through these busy months, it’s important to plan ahead.
Auditing past years’ activities, brainstorming new and modified ways to handle the increased demand for products and services, and even hiring seasonal help can be beneficial as you prepare credit union employees for the holiday season.
Don’t Dismiss Team Morale Checks
The holidays, while often touted as the most wonderful time of the year, are often harder for many people, especially those who deal with customers face-to-face (or screen-to-screen). While it’s important to prepare your credit union employees for the holiday season by giving them the professional tools and insights they need, you also need to be aware of the state of team morale and mental health.
While it’s important to celebrate with your team, it’s also a good idea to check in with your teams. If someone isn’t feeling particularly cheery, allow them to take the space they need, even if it means they won’t be attending the company Christmas lunch or holiday dinner. You can even move the celebration to after the new year, so your staff can enjoy the festivities outside of the stress that comes with the frenzy of holiday activity many industries are affected by.
Give Your CU a Great Gift, Too
IMS Integration has a range of professional services that are customized to you. UI and Batch Scripting in Keystone, custom web development, and custom electronic forms are a great gift to give your credit union for the new year. Let our expertise make things easier for you and your employees in future holiday seasons. Request a consultation today for more information about our credit union solutions.