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Do Your Members Trust in Your Credit Union?
Thursday, June 23, 2016 6:35 AM

Trust

By Cheryl Sayers, Director of Training, Remote Transaction Resources, Credit Union Resources

All relationships are built on trust, including those with a financial institution. Do your members trust in your credit union? Is your credit union and its staff focused on your membership and building a solid, trusting relationship with them?

We teach our staff to cross sell products and services to our members. But, are we so focused on getting that quota of products and services each month that we're missing the true point of what our members' needs are? Call centers, loan officers, member service representatives, and tellers are the ones that hear and see our members most often. Are they understanding and seeing those subtle clues as to the true needs of your members or just trying to meet that quota for the month?

A teller assisting a member with a transaction can learn a retired member is in a tough spot trying to make it to the credit union each month for funds to pay their bills. As a result, the teller has the opportunity to assist this member or connect them with someone in the office who has more time and know-how. In either case, the employee should show the member the options that will make their life easier. Are they eligible for direct deposit? Do they have access to a computer to set up online banking?

Don’t just sell them a service or product; invest your time and efforts to show the member how to use these services. This engenders trust for the credit union's employees, products, and services, and it reminds that credit unions are “people helping people.”

Empower staff with the resources and tools (online videos, training materials, workshops, etc.) that will educate them on the services your credit union offers. If your staff is well-versed on the services the credit union offers, they will be able to better connect your members with services that match what they really need.

Research indicates that, in most cases, when an organization’s customers are surveyed, about 80 percent of them will indicate that they’re satisfied. Many business leaders will embrace that number and fail to dig deeper. Satisfaction isn’t what it is all about. The real metrics are based on these two questions:

  • Will you re-purchase this business’ products and services?
  • Would you recommend this business to your family, friends, and colleagues?

In the teller example above, if the staff truly spent unrushed time solving the member's problem, and if afterward the member felt satisfied and trusting of the staff's efforts, the member will likely express those feelings to others—enthusiastically. Because the staff made sure the member didn't feel like just an account number, the member will recall that experience when thinking about future interactions with the credit union.

Showing you care about people in every interaction goes a long way in the business world and toward earning your members' trust.