During 2019 the Credit Union undertook its annual member satisfaction survey and we asked our members how they rated us for customer service. We were pleased to see that the overall level of satisfaction with the services we provide had improved, with an average score of 8.6 out of a possible 10.
2019 saw our continued focus on providing the best possible levels of customer service. This has not been easy, given the need to improve our profitability to meet regulatory capital requirements, which has meant we have been forced to decline a much greater proportion of loan applications. Not surprisingly, those who had loans declined were the ones most likely to give us low satisfaction ratings.
We focus on good service not just because it is good for business but, critically, because our ‘customers’ are our members and they own the business. Over 24% of the members contacted responded to the questionnaire, and of particular note was that 52% of those responding said that they had no savings at all before they joined the Credit Union.
Martin Groombridge, Chief Executive of the Credit Union, said: “We’re pleased to see that the latest survey shows a high level of satisfaction with the services we provide, with an average score of 8.6 out of 10, up from 8.5 in the previous year. We believe that this is a significant achievement given our tighter lending policies that led to more people having loan applications declined.”
During the year the Credit Union upgraded its app for mobile devices and made a number of improvements to the members’ secure area of the website.
Martin added: “The member survey showed that more still needs to be done to communicate our services, with nearly 32% of members not knowing about our mobile app, and over 46% not having heard of our budgeting accounts or money advice services.
“High member satisfaction has helped to drive the growth of our Credit Union over many years and we will continue to focus on the best possible levels of customer service.”
