Great Service Just Isn’t Enough Anymore!

By Sean McDonald

I am an unapologetic and unabashed advocate of credit unions (really ANY business for that matter) providing outstanding service at a every turn.  In my book, Stop Complaining, Start Growing, it is no accident that the longest chapter is on the importance of delivering great service.  But it seems to me that as the business environment grows more competitive, global, and interconnected, giving great service may not be enough anymore.

At this point, credit unions need to look beyond service levels and ask themselves if they are providing not only great service but also have the most innovative and technologically-sound products and services for their members.

Over the past couple of weeks,  I interviewed 100 people all between the ages of 21 and 35.  I wanted to find out how important great service actually was to these folks when it comes to dealing with their financial institutions – where it ranked in the scheme of things.  I should tell you up front that 70 of the 100 were credit union members.  The rest have their financial accounts at banks.  Here are the results of those interviews:

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