Customer-centricity

Bank professionals largely agree that the customer experience shapes the way work is performed within their organization. However, there are some issues that get in the way of a customer-centric approach.

The industry has an opportunity to build deeper relationships with members right now by communicating in a proactive and empathetic way.

Credit union executives have led teams through past crises, but the pandemic has created new economic stresses and mental strain that CEOs must address.

Credit unions need a clear strategy if they hope to break through to consumers already overwhelmed by the coronavirus.

Credit unions can build trust within their communities by providing clear and consistent communication as the pandemic causes economic anxiety.

Few lenders are finding creative ways to provide much-needed financial advice and emergency services online.

Credit union leaders can't truly understand how consumers interact with their institution until they've walked through those processes themselves and dealt with the same pain points members face.

One organization's findings reveal that financial counseling, when done right, can also help boost institutions' lending and brand recognition.

Credit unions have achieved success in areas like auto and consumer loans but there is still room for them to increase their home lending.

Some credit unions are experimenting with ambient scenting – adding distinctive but unobtrusive smells – in their branches. While those fragrances are meant to reinforce the institution’s brand, they could also have unintended negative effects.

With brick-and-mortar locations dwindling, it’s even more important to meet potential customers in the field.

The credit union service organization said the move was part of its focus on marketing technology products.