CINCINNATI—When spending money on a new branch or redesign, one company is emphasizing that funds should be invested in improving operational efficiency and member satisfaction.
“Branch design, layout, and branding are important,” said Mike King, vice president of strategic planning at design and build firm DEI. “But if there are additional funds available for a smaller investment, credit unions should consider putting that towards operational efficiency and member satisfaction. You can have a great new branch, main office or drive through, but member satisfaction comes foremost from the interaction with your front-line staff.”
Staff knowledge, efficiency and courtesy keep members coming back, reminded King.
“Training your employees is very important if the credit union is moving into a new building with different technology or the CU is moving from traditional roles to universal representatives,” said King. “Take the time to role play, educate and maybe even establish a friendly competition or an incentive program. Salary increases may not always be an option, but establishing a bonus program can help encourage employee longevity and loyalty. Replacing a star employee ultimately costs more then investing in the employee.”
Staff Performance
CUs, too, should pay attention to technology to increase staff performance, noted King.
“Technology could include anything from staying current on software to providing state-of-the art hardware—such as ITMs and cash machines,” said King. “Oftentimes, new technology requires updates to current software for optimal performance. Providing your staff with the tools to be efficient and knowledgeable can only encourage both employee and member satisfaction.”
Mike King
King said Campco Federal Credit in Gillette, Wyo., invested in both technology and operational efficiency and experienced great results in a highly competitive market.
“Limited by their less-than-desirable location, Campco had a difficult time attracting new members,” explained King. “The credit union decided to invest in a new main office that provided better accessibility, allowed them to be seen from all vantage points, and incorporated state-of-the-art technology.”
Wanting to provide an exceptional experience as soon as the doors opened to their new location, Campco diligently cross-trained staff on the new teller pods, cash recylcers and on relationship-building techniques for a seamless transition, King said.
“We incorporated teller pods and now have the ability to service members faster using the cash recylcers,” said Kurt Thelen, Campco president and CEO. “They have streamlined the process and made us more efficient.”
Member Accounts Doubled
From the first month Campco opened the new building, and each month thereafter, new member accounts doubled from the previous month and loans tripled for the entire first year.
“Word of mouth advertising about their exceptional service has fueled their continued growth beyond expectations,” said King.