Survey Consortium data show that online members are an attractive segment for strengthening the credit union relationship – as they tend to have higher income levels (about half have annual incomes over $66K) and have been credit union members for a long time (56% more than 8 years).
The general assumption that credit unions can fall into is that online members are highly aware of the credit union’s products and services, after all, most report going to the credit union website on a fairly frequent basis. But the member comments below show that while online members really want to use their credit union, many are unfamiliar with services offered outside online banking.
Managing the lending channel is becoming more challenging as the number of access points for members increases. Coordinating in-person, phone, and Internet channels to provide member service across a broader range of loan products is an increasingly complex task. Member expectations for round-the-clock availability require continuous and consistent service capabilities.
All call center functions are handled in house for Security Service Credit Union (TX).
Security Service likes the high level of control and flexibility that comes with in-house management. The credit union maintains direct and daily control over such areas as the types of metrics gathered, employee training, and staffing levels. As a result, new programs and services can be launched in a much shorter time than if outsourcing were used.
Having an in-house call center also makes it easy for the credit union to closely monitor service levels and quickly make changes where they are needed. For example, supervisors are able to monitor and record the keystrokes agents are using to perform various tasks. This information is then used to identify the agents who need additional training in specific areas. In this way, small individual gains in productivity can result in higher service levels overall. In addition to one-on-one monitoring activities, performance is tracked on a variety of metrics such as the percentage of calls answered within 20 seconds, the number of abandoned calls, and the average talk time.
According to Jim Laffoon, who oversees operations for the 474,000-member credit union, their Member Contact Center plays such a crucial role that outsourcing has never been considered. In addition to taking inbound phone calls, the contact center handles operator transfers, e-mail, faxes, and online chat. Creating a centralized contact operation has allowed the credit union to maintain a more consistent level of service across those channels. Keeping the contact center in-house preserves member choice, Laffoon explained.
Security Service is focused on leveraging their investments (in technology as well as employees) to develop a closer relationship with members. Laffoon summarized the credit union's philosophy this way: We've created an environment that is an efficient way to service member needs.
Security Service is a $2.7 billion credit union in San Antonio, Texas.
Join us December 16th for Callahan's latest webinar: Best Practices in Lending/Call Center Management to learn how other credit unions are effectively measuring and improving efficiency and ensuring better staff to member interaction. Credit Union speakers range from $300m to $2b in assets.