Member Ease of Use, A Competitive Advantage For CUs
“TO REALLY WIN MEMBER LOYALTY, FORGET THE BELLS AND WHISTLES AND SIMPLY SOLVE THEIR PROBLEMS” (Filene Institute)
In an increasingly digital world, where speed and efficiency are expected by consumers, credit unions face ever-evolving competition in winning, and keeping, member loyalty.
Filene has introduced a new report, sponsored by CU Direct, that closely examines how members’ ease of use can be a true competitive advantage for credit unions. The report reveals that there is a strong correlation between ease of use and loyalty, and credit unions must recognize this, not only to remain relevant with members, but to be successful in the future. Organizations that continue to use outdated processes and technology, contributing to a negative experience for members, will find it very challenging to succeed in the new digital marketplace.
In the report, Filene does a deep-drill on why a member-centric approach is key to instilling member loyalty in the digital age, and offers insight to what credit unions should be doing to improve the member experience.
The report calls out that “…many credit unions have found success in mapping the member journey. These efforts require a full understanding of what members experience at credit unions and how members compare that experience to other service interactions.”
To read the full report, visit Filene, and gain important insight to how your credit union can improve the member experience to build and retain loyalty.