Improving Member Experience for Credit Unions and Banks (2019 Update)

By Kelly Wilson - Oct 9, 2017

Improving member experience is at the forefront of almost every initiative that Credit Unions and Banks take part in. Recent surveys, conducted of Coconut Softwares enterprise clients, suggest that over 62% of clients chose to implement appointment management software to improve the overall member experience. In today’s digital era, where markets have become more competitive, it has become increasingly important for organizations to elevate member experience.


Ready to learn more about upgrading your institution’s digital presence and capabilities? Download our Ultimate Guide to Digitally Transforming the Appointment Experience


According to a recent survey by Extractable, banks and credit union have been focusing on customer service; they are providing better rates, fees, and low wait times in contact centers, as competitive advantages. However, many aren’t focusing on easy to use digital interfaces, financial tools or personalized messages.

Exactable also found the average member interacts digitally with their bank or credit union 158 time a year, while only call 13 times. When so many members are embracing these digital channels, user experience is critical. So why aren’t more banks and credit unions investing in improving the digital customer experience?

Not only does the digital experience affect members experience, it also influences their product purchase. Members are more likely to apply for a loan at the bank or credit union they believe has better ease of use and superior member experience.

According to ebiquity, consumers are willing to spend more with a company they believe provides excellent customer service. Financial institutions with better member experience are also more likely to increase member retention and satisfaction. Other factors influencing member experience are brand consistency and recognition, including the digital interfaces and emails.

Financial institutions can integrate technology with their current processes and continue to innovate, by implementing simple tools geared towards improving member experience. Here are a few tips to help ensure a successful implementation of these tools, to increase customer adoption and use:

  • Test out the technology and gain confidence in its ease of use before a complete implementation; look for pilots or trials.
  • Collaborate and work with the provider; develop a customized plan together that supports your financial institution’s needs.
  • Easily integrates with your current systems and workflows; technology doesn’t need to be complicated or require long implementation timeframes.
  • Easy to use for members and staff; increase adoption by implementing systems that members can and want to use.
  • Omnichannel capability; don’t look for systems to replace contact centers but enhance and improve the experience for both members and staff.
  • Secure and compliant; keep data and members’ information safe by ensuring the system has regulations and processes in place.

What Next?

Ready to learn more about upgrading your institution’s digital presence and capabilities? Download our Ultimate Guide to Digitally Transforming the Appointment Experience for an in depth look on how to make it as smooth as possible for everyone involved, and how Coconut Software can help get you there.

Looking to boost revenue and deliver a premium experience to your clients? Schedule a consultation with Coconut Software to learn more about how our appointment scheduling solutions can get you there.