Call Center Metrics And Orientation Goals

More from the 2016 Credit Union Call Center Conference.

What do credit unions need from their operations in order to succeed? That s a question asked and answered by Jeff Rendel, a former federal banking regulator and Congressional lobbyist, during the 2016 Credit Union Call Center Conference.

He identified 12 questions that CEOs want answered each year. As a credit union, did we

  • Grow our member base?
  • Grow our loan portfolio?
  • Increase deposits?
  • Deepen relationships?
  • Convert sales opportunities?
  • Increase member profitability?
  • Improve our cost of acquisition?
  • Market digitally?
  • Sell the old fashioned way?
  • Learn from frontline leaders?
  • Grow our community?
  • Create advocates?

Within each of these questions, credit unions can look at certain metrics to gauge to what degree they ve met these goals.

In some cases, as with deepening relationships, the credit union must first qualify what that means. Is it more products per member? Greater member loyalty? A lower attrition rate?

According to Rendel, mobile banking adoption is a powerful service for deepening relationships. Attrition rates for members who use mobile banking are in the single digitslower for members at smaller sized institutionswhile its more than 13% for those who aren t, a large difference. In addition, mobile banking users use, on average, 2.3 credit union products, while non-mobile banking members use just 1.3.

Similarly, members with more credit union products tend to have lower attrition rates. According to Rendel, members with just one product have a 20% attrition rate, while for those with more than four products the rate falls below 5%.

With regards to member profitability, Rendel presented an equation for member lifetime value, where the credit union s profit per member is multiplied by the member retention rate divided by one plus the difference of its cost of capital and member retention rate.


Member lifetime value is basically credit union algebra.

Perhaps not surprisingly, if a credit union could increase its member retention rate, lifetime member value rises accordingly.

Call Center Orientation Goals

Later, Greg Framarin, the director of training and business continuity for LSC, presented his way for creating an effective call center new employee orientation.

According to a Booz Allen Hamilton study, successful onboarding during an employees first year of service raises employees retention rates by as much as 25%, improves an employees performance in his or her job, and accelerates his or her time to reach full productivity, underscoring the importance of onboarding at credit union call centers.

He advises credit unions to think the whole process through much like Disney does at its theme parks. A former cast member himself, Framarin says that Disney will pump vanilla scent in certain areas of its parks because it has found that the scent makes people happy.

For credit unions, Framarin advises to keep things simple when it comes to planning new hire orientation.

They are so new, it can be like drinking from a fire hose, he says.

Framarin offered credit union orientation goals as well as some things employers should prepare before a new hire s first day.

Orientation goals:

  • Provide new hire the tools to succeed
  • Integrate the new hire into the credit union call center structure
  • Create templates, checklists, organizational charts
  • Multi-week plan and follow up
  • Detailed agenda of the day, week, month
  • Explain your call centers service standards

Before the first day:

  • Explain how to get in and out of the building, as well as where to park
  • Provide a schedule of meet and greets
  • Explain the dress code
  • Give a tour of facility
  • Be prepared script out the day

Also From The 2016 Credit Union Call Center Conference

  • How Credit Union Call Centers Can Make Members Feel Important

  • Call Center Training And Key Performance Indicators

October 19, 2016

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