SAN DIEGO — Some members like to keep a low profile when they contact their credit union, and live website chats may be the best way to do that.
"Live chat is a safe way for people to ask questions" that may not be worth a call or conversation, explained Kelly Costa, AVP-operations at the $690-million USA FCU here.
As for USA FCU's own interests: "Our goal is to capture those non-members or existing members who are browsing our site and see something appealing but have a question or two," Costa said. "Often, if they have to pick up the phone and call to get the answer they won't, so the opportunity ends. If they can ask their questions without feeling the pressure of a sales pitch or without waiting on hold, we have a greater opportunity to close the deal."
'Anonymous' Contact
Down-low interactions may be even more important during the down economy. Members who are under financial stress may choose to approach the CU via the live chat option, which facilitates "anonymous" contact, according to Noelle Fischer-Herbert, VP-corporate development, Pacific Service CU, which has offered live chat for nearly two years. "If a member were concerned about lay-offs and not making loan payments, live chat would allow the member to remain anonymous and give us the opportunity to create a bridge to help them," she said. The $1-billion CU might encourage the member to speak about options with a loan representative, for example - and then the live chat tool can automatically transfer the chat to a loan officer for a phone conversation, she said.
Live chat extends a credit union's reach during hard times, according to Matt Fagala, CRM director at $535-million Vantage CU in Bridgeton, Mo. "People are looking for help and advice, and we feel we have a lot to offer," including new products and services, he said.
Members may even think of live chat as a bit of a mind-reader. "If we see someone lingering on a webpage or switching back and forth between pages, we can send a chat invite and ask if they need help," said Fagala.
Live chat went live this month at both USA FCU and Vantage, part of an industry-wide move towards the technology. Live chat projects will increase by nearly 20% in 2009, according to a survey of 205 CUs published in the 2008 Technology Guide for Credit Unions by Callahan and Associates. English-language learners and people with "heavy accents" are another group who may be partial to live chat, Fischer-Herbert continued. "Instead of talking on the phone, they can type a message in live chat and be clearly understood."
Pacific Service chat agents field about 250 sessions per month, often from those who have chatted with the CU in the past, Fischer-Herbert said. Each chat lasts an average of seven minutes. In comparison, phone representatives handle about 16,000 calls per month that last about three minutes-but live chat is cheaper, she said.
Chat members ask about anything from rate changes to address changes, much like the topics coming in to other contact channels at the CU, said Fischer-Herbert. However, Pacific Service discourages members from divulging sensitive financial information via the website chat, directing them instead to the authenticated, strong-encrypted email channel within the credit union's homebanking site.
