Credit union summer camp nightmares by the campfire

Publisher’s Note: CUInsight is hosting a free webinar Wednesday, July 14th titled, “Camp Core: CX Nightmares by the Campfire.” We hope you’ll join us! Register here.

When you describe your core, what words or phrases come to mind?

If easy-to-use, easy-to-learn, user-friendly, efficient, and member focused are first on your list … the following information might not be the most helpful for you.

On the flipside, if tedious, hard-to-use and learn, slow, siloed and frustrated members are your initial thoughts — you’re in the right place.

Welcome. We’re about to rock your world.

Core fatigue is often overlooked or not recognized as a problem. Hidden afflictions have infiltrated the credit union and community banking industry for decades. Perhaps you’ve felt it yourself but never had the vocabulary to describe it this way.

Customer relationship management in credit unions and community banks have accepted outdated, manual processes as the norm. But … do they have to be? 

If there’s a better way, why isn’t anyone talking about it?

Spoiler alert: we do have a solution but don’t want to get ahead of ourselves.

First, to truly understand what’s going on below the surface, we need to deep-dive into the signs of core fatigue. Then, we can demonstrate the transformation we see daily with our credit union partners.

How do I know if I have core fatigue?

1. Training: We’ve been hearing that, on average, onboarding a new hire can take up to 6+ months — and the learning ends up being a never-ending cycle.
   • How long does it take to train new hires within your organization?
   • Do new hires typically complete the entire onboarding process?
   • What does turnover look like for recent hires in your financial institution?
2. Documents, Documents, Documents: We’ve seen user manuals that have grown to hundreds of pages, detailing every step and selection that must be made for routine banking functions.
   • How many pages is your documentation for tasks such as account opening, maintenance, credit card opening, etc.?
   • Have you gotten faster at navigating dozens of windows out of necessity, still dealing with the painful process to ensure you don’t make a mistake?
3. Customer Service: With a high level of service comes the responsibility of knowing the preferences of customers.
   • When someone walks into a branch, how does your frontline quickly identify or know what your member’s needs might be?
   • If an individual prefers to work exclusively with a certain team member, how is that information shared amongst employees?
4. Call Center Disconnect: Oftentimes, we see a gap or time-lapse with information being shared between call centers and retail branches — if information is shared at all. 
   • If someone calls a contact center with an account maintenance request and a case is opened, what happens if they then decide to visit a physical branch?
   • Do your call centers have visibility into activity at retail branches (and vice versa) in near real-time?

If one or more of these situations is part of your day-to-day, then you’re likely familiar with core fatigue.

And here’s the truth: Just because you’ve been doing things a certain way, doesn’t mean you have to continue on that path. You can transform your customer and employee experiences.

Don’t worry. We’re not all talk. We can help.

How can CRMNEXT help? 

Welcome to Credit Union Summer Camp Nightmares by the Campfire! Led by product and customer experience professionals from CRMNEXT, you’ll get answers on how to navigate terrifying tales of painful member experiences and chilling examples of what NOT to do when implementing core projects that affect your entire membership.

At Credit Union Summer Camp you’ll learn about:  

• Training and adoption for your camp counselor team  
• Getting over the fear of the S-SOW! Scary-Scope of Work 
• How to avoid window hopscotch while a member waits on the phone 
• Working smarter to manage a tangled web of applications with the right CRM umbrella 
• How core fatigue has limited your ability to see how you can truly help your members grow

After reading this article, perhaps you’ve come to the realization that you do, in fact, have core fatigue. If you, like us, are excited about this potential to transform and want to act, register today and join us for Credit Union Summer Camp.

Never fear — our counselors are here to support you.

Sign me up!

Don’t forget to join CUInsight and CRMNEXT for our free webinar titled “Camp Core: CX Nightmares by the Campfire”, on Wednesday, July 14th. Register yourself and a colleague here.

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