Fifty Northwest credit union CEOs gathered last year, and the topic turned to Amazon Prime. Nearly all were members and enjoyed Amazon’s “One Click to Buy” feature. Convenient, cool and a new normal most agreed. One CEO lightheartedly asked, “Could we ever see a day with ‘One Click to Borrow?’” All in the room favorably nodded.
Retail is retail. Consumers/members have expectations of their experiences in retail, regardless of product. What they receive through digital engagement, real-time status and anytime access outside the credit union is exactly what they expect when engaging with the credit union. Review this list of consumer expectations of retail experiences and consider added ways that your credit union can enhance its commitment to members.
Simple. Apple refined the ease of navigating a computer in your hands and now members primarily engage with credit unions from their handheld devices. How many transactions can a member complete digitally? How many steps are necessary to conduct business? Could a member go “branch-free” and still deepen a relationship with your credit union?
Personal. For all the mobile-first and do-it-yourself habits of members, sometimes a face-to-face conversation is necessary. How advanced are your front-line leaders in their communications and consulting skills? If a member completed “Steps A through C” on her own, could your front-line leaders pick up at “Step D?” How skilled are your front-line leaders in showing empathy and interacting with diverse members?
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