A New Way to Train Online
by: Stephanie Lutz, Management Analyst, CRI Solutions
E-learning for financial products in the credit union world has, to this point, been limited to pre-recorded or live webinar training sessions and stagnant reference sheets. While this delivery system can, at times, be an effective use of credit union resources, it is often a cumbersome and boring process that has given online training a reputation for being tedious and easy to ignore. Some credit unions are discovering a better way to train their front line staff using the online channel: interactive online universities. This method of course delivery is often more efficient and more engaging than other methods of satellite course delivery, which results in a higher level of service for members.
Improved Efficiency
One of the pitfalls of live webinar sessions is that they require participants to log in at a specific time in order to take part in the training. This is certainly not the most efficient delivery method for credit unions, since it would make staff unavailable to members during the course’s duration. Adding to the inefficiency of the webinar delivery method is the fact that the participant must sit through the entire session, even if certain sections do not specifically apply to them or their needs.
Online universities address these inefficiencies to allow staff to participate when it is convenient for them and navigate to the sections that pertain to their needs. In this type of training course, a computerized instructor guides the student through the material, which is listed in a menu format. The content is easily accessible at any time during the day for a quick refresher. This allows the credit union to make sure their staff is able to participate in training courses without it being at the expense of member service.
Improved Engagement
Prerecorded webinar sessions have the benefit of being able to be viewed at the employee’s convenience, but do not offer the interactive experience that can be achieved during a live session. Such sessions are often not engaging and, as a result, little of the information presented is retained. As Gen Y continues to enter the workforce, credit unions must use training methods that will keep staff engaged and a simple, prerecorded webinar just doesn’t cut it.
By taking the convenience of 24/7 availability and adding interactive components, online universities can deliver an engaging student experience for employees of all ages. Embedded flash games, which test the participant’s knowledge level or the application of concepts, help to reinforce course material in an entertaining way and require that the participant actually interact with the training in order to proceed. This method mimics similar activities that might be conducted in a traditional classroom setting, where the trainer helps students understand the application of what they just learned. Similarly, online universities often include a brief quiz in order to measure the amount of information the student retained after participating in the course. Once the course has been completed, a certificate of completion allows supervisors to track which employees have participated in the training. Message forums incorporated into the online university format also allow for a level of engagement that is unmatched by webinars and other online training methods. Participants are able to engage trainers with questions and feedback about the course and can participate in ongoing discussions regarding the application of course concepts in a way previously unavailable in financial product trainings.
Improved Member Service
By offering a combination of efficiency and engagement, online universities for credit unions provide staff with a cutting-edge way to deliver trainings. Studies have shown that employees are more likely to offer products that they understand, since they feel prepared to answer any questions they may receive.
In an industry where member service is at the forefront, CRI Solutions, Inc has created an Online University that addresses the flexible training needs of credit union staff. Our credit union clients have access to a variety of courses designed specifically for their financial product set.
Stephanie Lutz is a Management Analyst with CRI Solutions in Elkridge, MD. CRI Solutions exclusively serves credit unions by integrating insurance and financial products with the company’s best-of-breed technology platforms, resulting in market leading custom lending and workflow solutions. To learn more about the variety of training programs offered by CRI Solutions, visit our website at www.crisolutions.net.
