Services Drop in Satisfaction
- Surge of new members may have impacted satisfaction score.
- Credit unions should continue to think about ways to serve.
- Industry still ahead of banks, including large ones like Bank of America.
The surge in members over the past year may have been welcomed news for credit unions, but the overall member satisfaction experience might have suffered along the way.
“The large influx of new customers for credit unions, many of whom left banks because of rising fees, poses new challenges for customer service,” said Claes Fornell, ACSI founder. “The question becomes how to best serve a fast-growing customer franchise. The more customers you have, the more difficult it gets.”
VanAmburg emphasized that it’s not that credit unions are doing anything wrong. Rather, it’s the nature of a commodity that is in demand. He compared it to when Apple debuted the iPhone. Consumers flocked to it, but customer satisfaction dropped.