In the last month and change, businesses all over North America started closing. It was slow at first, but soon entire industries were closing doors and shuttering windows. And those business owners, employees, and customers are often credit union members.
All the while, the far more sinister specter of COVID-19 looms over us all. To be frank, this is not a time for most people to flourish. Most people are feeling some kind of pain—and those that haven’t yet might soon.
How is your credit union connecting with members during this crisis?
Why Connection Is Important Right Now
Some people have taken to using the term “physical distancing” instead of “social distancing.” They suggest that it reminds us that even though we can’t physically be there for each other, we can still connect with and support each other.
While the merits of changing terminology may be debatable, one thing is not:
We all have an obligation to look out for each other right now. (In fact, that’s what social distancing is all about—protecting each other from harm.)
What does this look like? Many of us are calling friends more often, video chatting with family, reaching out to old acquaintances, and spending more time on social media. Businesses are hosting virtual happy hours and offering free versions of their products and services. We’re shopping for each other, making and donating PPE, and otherwise trying to support each other.
As an essential business, a trusted advisor, and a pillar of the community, credit unions must take part in establishing and strengthening these kinds of connections.
How Can Credit Unions Connect to Members?
Credit unions have an opportunity here to build stronger relationships with their members. They also have the chance to build relationships with prospective members who need help.
- What is your credit union doing to ensure the health and safety of its members and the community?
- Does your credit union check in with members to see how they’re holding up? To ask about their needs?
- How can your credit union support their small business accounts during these times?
These are all big questions, and they’re just the tip of the iceberg. If extra connection with members isn’t on your credit union’s radar at this point, then it should be.
Tips for Communicating with Members
Currently, every single business has updated their customers about what they’re doing to combat the COVID-19 pandemic. Your credit union has no doubt done the same.
But credit unions thrive on the health of their members. Instead of focusing only on what your CU is doing, frame your messaging around what you can do for them.
Ask members about their pain points.
Ask business accounts about how you can support them.
Ask if people would like to set up teleconference calls about their financial needs and questions.
Try to listen to what they say. This is no longer business as usual. Showing your CU members that you’re there and ready to address their needs and concerns is a top priority.
Resources for Communicating with Members
One way you can connect with your members is with LiveSurvey. Our credit union-only survey platform can help you quickly source, quantify, and visualize member feedback and data.
By asking your members about their needs, you may quickly identify immediate areas for assistance, outreach, and improvement. Your credit union might also include follow-up requests to alert managers, loan officers, or other employees to contact members who need financial assistance.
To learn more about how LiveSurvey can put you in touch with the voice of the member, follow the links below or simply contact us.