The Importance of Becoming a Member-Centric Organization
Continued credit union growth is predicated on the ability of credit unions to not only keep the members they have, but also attract new members. It is important for organizations to focus on its employees and business operations, but in order to grow and prosper they should concentrate on their members. Members serve as the conduit between the employees of the organization and any earnings potential that an organization may realize.
As many credit unions have known for a long time, but is only now widely accepted in many business organizations, profitable member/customer experiences are no longer transaction based, but rather relationship based. This requires every person in the organization to be aligned and commit to a sole strategy of positively affecting members whenever possible.
Member-centric organizations proactively and constantly listen to their members and react accordingly. They view their business strategy from the point of view of the member, and thus reduce expenditures on unwanted processes, and at the same time create new business opportunities as a result of acting on member feedback.
This requires the ability to analyze every business function within the organization, not only relying on member surveys or direct member feedback.