By partnering with Blend to improve its member experience, MACU has achieved a Net Promoter Score (NPS) well above industry average — on par with consumer brands like Amazon — and is now the fastest growing credit union in the United States.
What are you focused on at MACU?
My role now is to look at member feedback coming from all of our different channels and then try to find and fix any gaps. I also look for tools that improve the overall member experience. We use a lot of tools like journey mapping, focus groups, interviews, observations, and surveys. We are working with Blend on our mortgage business and the online application experience.
Why does MACU have a role focused on the customer experience?
Our members have so many different ways to share feedback with us. A customer experience professional can identify all those channels, gather that information, find the common themes, and identify solutions. Gathering feedback is probably the most important factor in really transforming as an organization.
How is digital a part of MACU’s customer experience?
The goal is that a member should be able to start an application online, visit your branch, and your branch employee should know exactly where they are in the process. Can that happen? Sometimes it can, but I think also you want to make sure there is some personalization, speed, and ease. All these things create an omnichannel experience.
When technology comes into play it’s important to identify the tools that can help you advance. You take it piece by piece. You think, “Okay, well here’s something we really can create a new buying experience with, so we’ll start with that.” And then we’ll maybe move on and work on something else. In working with Blend, we wanted to create an omnichannel experience that drives application volume and pull through.
How does digital affect Mountain America’s approach to its branch strategy?
We are heavily invested in our branches. We really feel strongly that even if our members want to use online solutions they should still have physical branches to rely on. We see digital as a way of augmenting our physical brand strategy. It’s part of our commitment to providing world-class member service.
How is the member experience evolving for lenders?
It’s funny that when we talk about digital we tend to talk about Millennials. I think it doesn’t matter who you are. It doesn’t matter what age you are. You want the same thing: you want it to be easy, you want it to be fast, you want it to be personal. That’s it.
Personalization and ease of use are especially important in finance. Customers want to get their solutions quickly, they want accuracy, and they want customized service. We get hung up as organizations over loyalty, or Net Promoter Score (NPS), or other metrics. And honestly, I think they’re all the solution.
I don’t know one person that doesn’t have more than one bank account. I don’t know one person that has just one credit card. I think if you’re chasing after getting one hundred percent loyalty, you’re never going to get there. The ultimate goal is making service easy.
To learn more, see our customer story with Mountain American Credit Union.