We hear the platitudes all the time.
- Credit unions will succeed because they believe in member service
- Credit unions are service focused and their members know it
- Credit union members are more satisfied than bank customers
- Credit unions can leverage their strengths in service to create success
But here is something we don’t hear enough: Is member satisfaction really enough?
Think about it.
Satisfaction tells us how they feel about their last interaction with us. But what about their next interaction? Will they come back? Will they tell their friends? Will they talk about us in a way that brings us more members and more business from current members?
Those are the things your future success rests upon, not smiling happy people who are satisfied.
ACTION ADVICE: Seriously consider this question and what it means for your credit union. Everyone in financial services says they deliver great service and everyone measures satisfaction. But maybe we should be measuring loyalty, commitment, and a true sense of ownership in the collaborative sense if we really want to create long term success.
It’s Your Turn…What do you think? Am I missing the boat here? Is there some relevance in going beyond just satisfying members? Post a comment and share your thoughts.