1. Stop Trying to Delight Your Members
Jim Kasch

2. “To exceed the highest expectations...”

3. “To thrill our members...”

4. “To delight our members...”

5. How are we doing?

6. “Credit Unions Top in Consumer Satisfaction” - CUNA

7. “Credit Unions Lead the Pack” - CFI Group

8. “Credit Unions Still Lead” - ACSI

9. Wow!
We must be killing it!

12. In other words...

13. Credit unions have gained 0.7% in market share over the past six years.

15. 5,785 Federally Insured Credit Unions
Less than $150 million
4,592
440
480
273
< $150M
$ 150 – 300M
$300 - $1 B
> $1 B
Average Asset: $25 million
Median Asset: $7.5 million

16. If we’re so great...
Why are we shrinking?

17. It’s not about member satisfaction...

18. It’s not about delighting members...

19. It’s about reducing effort.

20. Organic Growth
Promoter
Loyalty
Satisfaction
Member Effort

21. Percentage of Satisfied Members who plan to leave the credit union:
26%

22. Percentage of Dissatisfied Members who plan to stay with the credit union:
76%

23. “Stop Trying to Delight Your Customers”
Harvard Business Review

24. Customer Contact Council
3-year study
75,000 consumers
Across industries

25. “Delighting customers does not build loyalty
“Delighting customers does not build loyalty. Reducing effort builds loyalty.”

26. “Deliberately acting on this insight can improve service, reduce costs, and improve customer retention.”

27. Customers are FOUR TIMES as likely to leave an interaction disloyal than loyal.

28. How can we know how easy it is to do business with our credit union?
Ask.

29. “How easy is it to do business with the credit union?”
Member Effort Score
“How easy is it to do business with the credit union?”

30. Low Effort 71% NPS Promoter 86% Passive 26% Detractor 14% Satisfaction
Top Box 82%
Satisfied 63%
Neutral 0%
Dissatisfied 16%

31. What can you do about it?
Plenty.

32. What’s the message to your employees?

33. “Telling reps to exceed expectations is apt to yield confusion, wasted time and effort, and costly giveaways. Instead, stress the concept of making it easy.”

34. “Did you exceed her expectations?”

35. “Did you exceed her expectations?”
“Can we make it easier for her?”

36. Where should you look?

37. Member Access Points

38. Electronic Channels
Breadth of Offerings

39. Electronic Channels
Depth of Offerings

40. Electronic Channels
Functionality

41. Electronic Channels
Member Expectations

42. Retail Branches

43. “How do you prefer conduct transactions?”

44. “How do you prefer to open accounts?”

45. “How do you prefer to apply for loans?”

46. Policies

47. Risk
Convenience
How do you balance

48. Internal Processes

49. Member Requests

50. Where do you start?

51. From the member’s perspective.
Ask your employees.
Fix the printer.
Manage the whitespace.
From the member’s perspective.

52. It’s not front office.
Or back office.
It’s one office.
It’s the credit union.

53. Avoid channel switching.
Head off the next issue.
Avoid channel switching.
Train for emotions.
Use member feedback.

54. Improve self-service options.
Don’t make the member tell you.
Deconstruct processes.
Don’t pass the buck.

55. Redefine “convenience”.
Empower the frontline.
Resolve at the first opportunity.
Leverage improvement teams.

56. Jim Kasch