A More Personal Approach to Member Service

by John Taylor

When it comes to your members, you know more than you realize. Thanks to modern data archive and customer resource management systems, there is now little shortage of member information—both individually and in aggregate.

The challenge is no longer what a credit union knows about its members, it has become how to access that information, incorporate it in real-time, and respond to it with each transaction.

Across industries, business customers expect personalized attention. For example, savvy restaurateurs understand the importance of knowing their regular diners’ names, food allergies, or favorite bottle of wine. Fund-raisers know which hot-button issue will likely generate a contribution, and customize their appeals to maximize response.

Likewise, credit unions have taken a more personal approach to their members’ banking. Tellers are encouraged to recognize and greet members by name, and credit offers are customized to meet the specific situation of each borrower.

Increasingly, specific information about each member is used to better respond to each transaction. In fact, credit unions frequently cite superior member management as a key differentiator when attracting and retaining members.

Front-office employees often have qualitative information that can enhance strategic decisions and should be included in back-end data systems. Conversely, detailed member data needs to be instantly available when making member-facing product decisions.

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