"People helping people" is the driving philosophy for many credit unions, making the member experience a top priority. This becomes especially important during mergers and acquisitions. Whether it's welcoming "new" members into the fold from an acquisition or maintaining great service for existing members through the high-volume period following a merger, a consistent experience is key to success. We've had some experience in this area at WyHy Federal Credit Union, having merged with three other credit unions over the past two years. We've identified three best practices to help maintain a strong member experience through M&A activity.

1. Add digital member service options, including collaboration features. We are seeing a growing preference among some members for digital-first options. Especially during peak call times, the ability to chat online, connect via video or even send an SMS message is convenient. You can expect call volumes to rise significantly right after an acquisition as members have questions about what the merger means for them personally. Allowing members to chat online for quick answers versus a longer wait on the phone helped maintain a positive experience while deflecting calls that would only add to the average wait time.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.