Modern members are no longer willing to wait for their credit union to provide them with what they need. Instead, they want it to provide the products and services they need now, when they need them – or even before.
Be it in our personal or professional lives, relationships are built on trust. Although services and products are undeniably important, the key to building any great relationship begins with your customers trusting you. People trust those they believe have their best interests at heart, and distrust those who have only their own interests in mind. Perhaps most importantly, they distrust those who pretend to be the first, but behave like the second.
First impressions count, no matter how much you want to believe otherwise. This is true regardless whether you’re talking about huge corporate endeavors or community-level organizations. When your credit union (CU) customers want help accessing your products and services, the frontline staff need to be well-versed ambassadors for your brand who are ready and capable of providing it. Here are our reasons for this:
More and more purchasing and other financial transactions are moving online, and whether that means working via mobile app or using a desktop computer, it’s a whole new world when it comes to credit cards. For Credit Unions (CUs) to keep pace with the bigger financial players, offering incentives is crucial for getting members to use their cards for checkout processes. The focus on the digital environment requires you to reimagine the traditional card loyalty programs, too, to ensure that the rewards offered are easy to earn, access and claim online, to encourage win-win behavior.
Great client service is at the heart of every good business relationship, and credit unions depend as much as other companies on keeping their members satisfied.
It takes something more than a smile, however, to enable members to come away with a positive experience. One of the aspects of good client service is the availability of substantive technological know-how, presented in a manner that’s both courteous and responsive.
Here are some ways to make sure you’re delivering on this criteria:
As consumers increasingly shop online and pay bills with debit and credit cards, it’s more important than ever for credit unions to improve cardholder experience, providing them swift, easy access to accounts and data anytime, anywhere. For the credit union itself, it’s vital to maintain up-to-date cardholder information in order to ensure members consistently use the credit union’s card for all their payments. It’s a challenge, particularly when competing with institutions that have a far greater marketing reach.
Stats from the Credit Union National Association (CUNA) show a high percentage of members don’t fully understand the difference between a credit union (CU) and a bank. The need to educate consumers on this and other topics offers CUs a rare opportunity to use content as a means to member retention.