continue reading » 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU’s Alexander Monterrubio, during a recent interview with CUbroadcast’s Mike Lawson, said the current regulatory outlook seems positive for credit unions as the CFPB and NCUA focus on reviewing and tailoring regulations.Monterrubio, NAFCU’s director of regulatory affairs, provided an update on efforts at the CFPB with Acting Director Mick Mulvaney now in charge. Monterrubio told Lawson he expects the bureau to offer more substantive guidance on regulations, and for it to “take into account credit unions’ and other financial institutions’ feedback on rulemakings.”He also noted the series of requests for information (RFI) the bureau is issuing in order to review its functions. Monterrubio encouraged credit unions to provide input on the RFIs to the CFPB and NAFCU to help the bureau improve and make sure credit unions’ concerns are heard.
Don’t forget to join CUInsight and SoGoSurvey for our free webinar titled Navigating Uncertainty: 3 Ways to Prioritize Member Experience During COVID-19, on Wednesday, August 5. Register yourself and a colleague here. While saving is generally a pretty sound practice, investing is also a critical part of future planning. If you’re a credit union, the best investment you can make is in experience.What is “experience” and why does it matter?Satisfaction is great, but it’s only part of the puzzle. Keeping both your members and employees engaged through uncertain times requires a more holistic perspective.Experience is a complete view of all of the interactions someone has with your brand, and therefore their impression of who you are as an organization. For members, these interactions are the steps along the customer journey — touchpoints like opening a new account, making withdrawals and deposits, or applying for a loan. The employee journey has similar touchpoints, from hiring and onboarding to training and reviews.While checking in on a single interaction can help you understand someone’s satisfaction, understanding experience requires a more systematic approach.Doubling down on digitalThe transition to a primarily virtual experience means that you no longer have the luxury of seeing everyone in person. Instead of smiles and casual conversations, your interactions are reduced to transactions. Now, if there’s even a temporary issue with your mobile banking app, satisfaction plummets. If your team needs to launch a new product awareness campaign, the pressure to produce while dealing with a reduction in in-person interactions and a lack of “real life” opportunities to connect can cause stress to skyrocket.Credit unions are traditionally community oriented. How can you maintain that same level of community in a digital world? A systematic plan for feedback collection at key touchpoints can help you to identify rough spots before they become disasters. Plus, keeping communication open ensures that your community members know how to reach you if something goes wrong — or if something goes amazingly well!For example, one of our credit union partners uses an automated approach to follow up with multiple touchpoints — opening and closing accounts, transactions, loans — and is able to see the shift from in-person to virtual options in real time. This visibility allows them to address pain points before they escalate, and to identify strength areas that can drive training and service improvements.Pricing pain pointsYou can’t put a price on meaningful feedback. Unfortunately, sophisticated experience management tools have historically been out of budget range for small- to medium-sized businesses. The good news is that the recognition of the power of experience management has led to rapid advancements in technology, leading to more affordable options gaining market share.One of our client credit unions used a “secret shopper” method in the past, in order to gain an outside perspective on member experience. Now, though, they’ve found that it’s much more effective to reach out directly to their members for the inside scoop. The insights they’ve uncovered have improved their policies and professional development, and member satisfaction is on the rise.Member experience program prioritiesTo make the most of your resources, review your priorities. Do you have the expertise in-house to run a successful member experience program? Do you currently have tools you can use to measure what matters? How will your systems work together?In some cases, working with what you have may be just fine. If you find you’re missing a few ingredients, though, make time to research your options. Even the best efforts can sometimes benefit from outside support. Sure, the technology is important — more engaging participant experience, better quality reports and dashboards — but the people who power the program are critical. While you know your members best, look to member experience experts and resources for advice on continuous improvement.One of our long-term credit union partners originally connected with us for help with a member satisfaction survey. After some feedback and updates from our team, our partner CEO was shocked to find how high response rates suddenly jumped. It’s not magic, but the combination of her experience and our expertise made for a winning combination.Times may be tough, but smart investments in experience now will continue to pay off down the road, no matter what the new normal brings. Your employees, your members, and your bottom line will thank you. Editor’s Note: CUInsight is hosting a free webinar on this topic Wednesday, August 5 titled, Navigating Uncertainty: 3 Ways to Prioritize Member Experience During COVID-19. We hope you’ll join us! Register here. 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Melissa Krut Melissa Krut is a writer, a teacher, and the Senior Director of Success at SoGoSurvey. Beyond supporting client success through trainings, managed projects, and content resources, she prioritizes employee success … Web: https://www.sogosurvey.com Details
Skerrit said the road to recovery will be a long one. “It is going to be a very long a difficult journey, but I am confident that if we remain united as a people we can bounce back. It will take us some time but as for myself I am completely committed to the country in doing what I can to assist in raising the necessary finances and making contacts.” Health sectorIn reference to the health sector, the Prime Minister said patients in need of critical care at the hospital – that lost its roof, must be airlifted. “The hospital is being run on an archaic system…..the dialysis machines are down, the ICU has been destroyed by the hurricane. That is one of our major concerns. Any country that can assist us with airlifting patients to Martinique. One patient who has to receive dialysis every day walked over 21 miles and I met him at the hospital….another patient, if he doesn’t get airlifted, he will expire.” PM to address UN General AssemblyThe Prime Minister said he will be traveling to New York on Friday to address the United Nations General Assembly. “I originally had no intentions of going …. But I will speak to the international community, to have meetings with the UN Secretary-General, to outline Dominica’s situation. So, we will not leave any stone unturned. We have all been impacted and we can only make life better.” Emotional interviewSkerrit in an emotional interview on ABS television in neighboring Antigua and Barbuda on Thursday said the entire nation was impacted by the powerful storm and at least 15 people are dead and 20 others missing. TelecommunicationsConcerning telecommunications, the Prime Minister said experts from both Digicel and Flow have been working feverishly to restore services as there is limited cellular coverage. “The entire east, the extreme south, the inner communities…the rain forest areas where the indigenous people reside…there are significant challenges,” he said. 72 General Debate – 23rd of September 2017Her Excellency RooseveltSKERRITPrime Minister and Minister for Financeand Public Service of theCOMMONWEALTH OF DOMiNICA The Prime Minister of Dominica, Roosevelt Skerrit has issued an urgent appeal for the island, following the passage of Hurricane Maria earlier this week. In a message to Dominicans in the Diaspora, Skerrit said the country needs them. “If there has ever been a time that Dominica needed its people the most, it is now…..I am here to speak on behalf of the 72-thousand people who call Dominica home – every one of us need you.” However, the Prime Minister said the resilience of Dominicans is evident even in the midst of crisis and the “community spirit is kicking in. People are on the move, clearing the streets to create access to buildings. Some of them are still in shelters….. there are also many who have no place to sleep at night.” Skerrit also pointed to the need for access to resources to build more resilient countries. “We have been playing our part but the extent of the resources required to put in the mitigation systems is beyond us…..” Supplies are criticalSkerrit, who also lost the roof of his house during the storm, said the “logistics of getting supplies will be critical.” He has authorized and approved a distribution strategy, and also indicated, “The most immediate needs are tarpaulins, water, and food supplies…..every village I’ve been to, they are in need of water and more water and baby supplies.”