In a world that battles competition ruthlessly, every single day, the philosophy guiding credit unions comes as a whiff of fresh air. It isn’t a profit-centric mentality that guides this industry but an all-inclusive “for the benefit of members” approach. This sense of community is extremely inspiring in the day and age we live in. But how can credit unions make sure that they can keep this philosophy alive and stay relevant amidst such hectic digitization? On top of that, how can credit unions guarantee member loyalty and growth?
The secret lies in managing the member experience. Member experience takes into account all the feedback from members and puts it into perspective in order for credit unions to address issues and tackle them. By working on member feedback, you convey to your members that “sense of community” is not merely a trending phrase but a sacrosanct philosophy which you respect and value. Managing member experience, however, doesn’t end with collecting feedback. It starts there and culminates in loop closure.
Ideally, managing member feedback should involve the following stages:continue reading »