Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Leading, lagging indicators can help optimize metrics, says CUNA Council white paper
MADISON, Wis. (7/15/14)--A new white paper from the CUNA Operations, Sales and Service Council explores the need for credit unions to establish metrics to meet growth and service goals.
 
Credit unions must decide which types of performance evaluation tools are most useful to their operations: financial benchmarks, efficiency ratings, branch performance assessments, member satisfaction rankings, call center metrics, transaction rates in key services such as payments, and trends and new approaches in frontline service.
 
Three case studies are offered to provide real-life examples of how credit unions measure and continually improve their operations, sales and service delivery.
 
One case study explores how $12 billion-asset BECU, Tukwila, Wash., seeks actionable data to improve member services.
 
The Net Promoter Score is a key member satisfaction metric at BECU to the point that the metric "is baked into our strategic objectives as part of our long-term plans," said Shane Morris, senior member loyalty manager.
 
Most recently, BECU has used the results of these surveys to make specific improvements in new member enrollment. The credit union's service model is unusual in that most of its facilities do not offer teller services--members who need to make a deposit or withdrawal are directed to ATMs, its two financial centers with teller counters or shared branches operated by other credit unions.
 
BECU's frontline employees now offer an explanation of how members can find the services they need in BECU's network of branches, ATMs, online and mobile services, shared branches, and kiosks at 7-Eleven stores. Staff can even "show and tell" the service options with a "placemat" available on every desk. For members who enroll online, BECU rescheduled its outbound call to welcome then on Day 2 instead of on Day 7.
 
To download the white paper, use the link.
RSS print
News Now LiveWire
Rep. Hensarling on HR 4042: "I plan to work to ensure #creditunion parity in this bill." Act would study appropriate capital reqs for MSAs
14 minutes ago
The @FinancialCmte has passed HR3240, the Reg D Study Act, by voice vote
17 minutes ago
.@pewtrusts : Prize-linked savings gaining nationwide momentum #NewsNow http://t.co/xltJhvlrY2
1 hours ago
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
19 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
23 hours ago