Five practical ways to build a member-centric culture

For the past two decades, credit unions have indicated that member centricity is the leading feature of their strategic areas of focus. You can find some variation of member emphasis in just about every strategic plan. But, how can a credit union tell that it’s getting this focus right? Technology, data, systems, and sales help; however, resources can determine how much a credit union can and cannot invest in these kinds of capabilities and processes.  

All credit unions can get underway with a commitment to, and action plan for, a culture dedicated and driven for the member. Products, delivery, and marketing matter; but, culture encourages the necessary outlook and principles in employees. To build a member-centric culture, credit unions should deliberate these five practical ways to add action to their strategic objectives.

Think like a member. Simply put, members are consumers. While the product may change from one establishment to another, the expectations of members/consumers do not. Look to current research on customer service and uncover the elements that consumers value most. Then, refine your service and experience standards to reflect features that deliver value to members. It’s all about the member.

Listen to members. There are many ways to gain insights from members, from transaction-based member effort scores to good old-fashioned lobby talk. What’s most important is that employees hear feedback from members and how to deliver and increase value. To some extent, every employee is a member service representative. Each day, front line or behind-the-scenes, everyone serves members.

Hire with members in mind. If members are the priority, hiring practices should include evaluating a candidate’s inclination toward member service. Marketing and human resources can work together to create questions and consider candidates’ and employees’ views of member-centric thinking. Regardless of role, all employees should understand and connect the actual significance of members.

Measure member success. Ultimately, members vote with their wallets. But, a lot leads up to expanding or narrowing relationships. Common measures – net promoter score, average wait time, first call resolution, mobile/website uptime, loan turnaround – trace the association between culture and member. Member-focused measures display how daily activities generate member success.  

Add member success to employee evaluations. What if evaluations were like mission statements – tied to serving members?  Every department affects some measure of success – revenue, profit, service, or experience. When an employee’s success is tied to members’ success, a stake is created. Expectations and results reflect commitment, risk, and reward to serving members at all levels of the credit union.   

Credit union leaders have an appreciation that culture and strategy go hand in hand – culture propels strategic focus; and, strategic focus reinforces culture. With member focus at the heart of many credit unions’ strategic plans, evaluate how these five real-world methods can place member centricity at the core of every function in the credit union.