ORLANDO, Fla.-Most credit unions hang their hat on delivering great service to their members. But one CU here has the daunting task of pleasing a company known worldwide for going the extra mile to knock the socks off its customers.
Partners Federal Credit Union serves "Cast Members" of The Walt Disney Co., and the fact the folks most businesses simply refer to "employees" get such a special title is the first hint to the lengths Disney goes to build a world class service culture. So when the $1-billion Partners Federal remodeled the branch located in the Team Disney building here, it was unlike the challenge other credit unions face when building a facility in sponsor company.
Add the introduction of a high-concept "Technology Bar" and appearances by two international film stars (Mickey Mouse and Minnie Mouse) for the ribbon-cutting ceremony, and the pressure was on.
Mike Terzian, VP-marketing and business development, told Credit Union Journal management at Partners FCU is only half joking when it says the CU is expected to deliver a "magical experience with FedEx efficiencies at Walmart prices."
"It is difficult, but it is a great opportunity," he said. "We have to do what we say that we are going to do. Service and experience are the bread and butter of Disney. The company has great intellectual property, but so do a lot of other entertainment companies. What really stands out is the service Disney gives, and being the credit union for Disney is tough."
Value Concepts
Every product and service the credit union offers has a value concept, Terzian explained. If Disney Cast Members, or those in their families, make Partners their primary financial institution, "we are going to ensure they will receive unmatched overall value. This is not achieved by one special offer, it is day in and day out."
The "Disney Way" involves not only constant self-examination, the company also looks for inspiration from other companies with a reputation for outstanding service, Terzian continued.
He noted Costco has one of the best Net Promoter scores of any large American company, due in no small part to having member-friendly policies in place such as no-exceptions returns and price matching.
"People have the same experience at any Costco, and we try to do the same," he said. "We also are extremely focused on our people. We try to follow the principles in the book, 'Good to Great.' At the end of the day the people in our credit union are the final element of the experience we are giving, so we have a great deal of focus on training and measuring."
Service metrics are incorporated into every channel that interacts with Partners FCU's members. Terzian said it has an extensive mystery shopping program that anonymously goes beyond in-branch visits.
In addition, the credit union performs random transactional phone surveys, and semi-annually it does a postal mail and e-mail survey of 10,000 members that measures everything from satisfaction with transactions to share of wallet.
"We do all of those measurements to ensure we are meeting our value promise," said Terzian. "Everything is backed with data, facts and figures. We have an overall member satisfaction score that we need to keep up. We are working with our fellow Cast Members, so the expectation level is much higher than at a public financial institution such as Chase or Wells Fargo."
Remaking the branch inside the main management office required a great deal of collaboration. Terzian said representatives from the CU worked with their Disney colleagues on "everything, right down to the paint colors" to ensure the experience would be consistent.
The new branch will feature the first "Partners Technology Bar," which includes several tablets and smart phones. The objective, he explained, is to let members know they still will get service at the branch, but once they leave there are several "bank-at-will" options available to them.
The Technology Bar is hosted in part by what Partners calls an electronic delivery specialist. This person will give tutorials on home banking, mobile banking, remote deposit capture, mobile deposit capture and other bank-at-will services.
'Personalizes The Experience'
"This is information with a human touch," he said. "The Technology Bar is a chance for our people to show how to use these services. Many Cast Members drive in from 15 minutes or even 20 minutes away, so it is hard for us to build a big enough branch network. So in addition to shared branching with CO-OP Network and CU Service Centers, which gives us 28,000 ATMs and 4,500 branches, the technology aspect fills in the gaps. Just about anything someone wants to do can be done with our bank-at-will services, and if they don't know how to use them we will show them."
In keeping with the theme of helping its members inside and outside of its branches, Partners recently implemented "5-star service" at each of its locations. Terzian said there are takeaways with contact information on the back. Members are invited to call if they have any questions later.
"This personalizes the experience and is a way to keep us top of mind with the members," he said. "We just rolled out the branding a month ago and it has already raised our satisfaction scores."
