Attracting new members is a big challenge but keeping them may be a bigger obstacle.
Even though the $3.5 billion Mountain America Credit Union grew its membership from 182,098 to 319,361 from 2003 to 2008, the West Jordan, Utah-based cooperative understood that if it wanted to hold on to those new members, it needed to modernize its voice of customer efforts.
Read more in the Aug. 28 Back-Office Technology Focus Report:
Five years ago, MACU's VOC program included mailing a survey every other year to all members, getting feedback from them via tellers, loan officers, or call center reps, and reading letters from members, said Dennis Bromley, senior vice president of member development and engagement at MACU. However, the VOC program made it increasingly difficult to keep tabs on what its growing membership thought of the credit union's products and services.
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