Financial Services

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Feb 10, 2021

Giving Credit Unions the Credit: 3 CX Lessons for the Digital World

by Disha Sanghvi

Wondering how to inspire customer loyalty and create brand champions? Take a page from credit unions’ member satisfaction handbook! The debate between credit unions and big banks is endless, but there can be no doubt that if you’re looking for a more authentic, personal experience every step of the way, credit unions have plenty to offer! While there are several key differences between banks and credit unions, the latter continue surpassing their competition on one critical aspect time and again – their exceptional member satisfaction rate! Customer experience is capturing the spotlight and becoming the key differentiator amongst businesses today, however credit unions have been focusing on it for years. Translating some of the key credit union principles for the digital age, here are the critical lessons we can learn to boost customer experience in any business. #1 Empowering Employees Can your employees truly take charge? Credit unions give their employees authority to act independently, making it easy for them to take the lead when situations demand it. For example, a teller at a credit union has the ability to reverse fees if they believe that’s the correct action to take – without the need to consult their manager. This empowers them to be proactive and make decisions that improve member satisfaction, ultimately benefiting the credit union with member loyalty! This is critical today, as customers have grown to demand the best experience. By giving your customer service executives the leeway to take decisions that benefit customers, not only will […]

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