Keep your branch relevant as member service expectations change

first_imgJust about everywhere you look these days, headlines and studies highlight how advanced technology is changing the way that consumers interact with their financial institution. And while the use of online and digital banking services is steadily increasing, personal interaction at the branch level continues to be a valuable component of excellent member service delivery. According to recent studies, some consumers still prefer to purchase banking products in-person versus online, and rely on branch offices for getting answers to questions and resolving issues related to their accounts.But as competition for member transactions increases, credit unions are faced with the challenge of whether to maintain robust brick and mortar facilities that provide valuable and in-demand services to meet member needs or to install smart kiosks in certain underserved market areas, or both. Determining whether or not you have the right strategy in place can be time-consuming, but it is essential for the long-term stability of your credit union.Evaluating branch profitability and effectivenessConsidering that the most common alternative to visiting a branch facility is conducting business on a computer or smartphone, it is essential to determine how to make sure your branch is a valuable resource in your market or service area. There are several factors to consider, including: Do you have the right number of branches in the right locations to serve your members?Should you build a new branch or put in smart kiosks in underserved areas?Do your delivery methods fit your member demographics?Are your staff members the right fit for your branch – adequately trained to sell and cross-sell products and services, and to provide support to your members?A diagnostic review of your existing branch(es) can  provide a data-driven evaluation of your business volume, traffic patterns and the type of transactions handled on a daily basis. The results, along with an analysis of net operating costs of your overall institution, will determine the profitability of your existing structure, as well as what changes might be the most beneficial to maintaining a successful, competitive organization.Do you have the right staff and technology?The effectiveness of branch personnel in providing solutions to member questions and problems can have a tremendous impact on maintaining long-term member relationships. Do your members have access to universal tellers who can help facilitate all of their needs – from opening a new account to discussing a loan or resolving an error on a transaction? Or is your lobby set up in silos where members must wait for different employees to handle their business concerns separately?  On a typical day is there a line in the drive-through or at the ATM while the lobby is empty? As consumers continue to incorporate technology into every aspect of their lives, it is imperative for credit unions to provide access to their services 24/7 with mobile and digital devices, as well as through integrated services, such as intelligent ATM machines.Incorporating intelligent ATMs can be an incremental step in transforming your credit union to offer some of the high-tech conveniences your members find valuable. By providing access to interactive ATMs in your lobby, members have the option of completing nearly any transaction without going through a teller line or interacting with branch personnel. Interactive ATMs – some enhanced with video technology – can provide a variety of teller services at the branch or remote locations, giving your members expanded access to personal financial services, at their convenience.Plus, integrating such self-service technology into your service delivery options can enable your credit union to:expand your footprint without the expense of additional facilities;reduce teller transaction costs and improve productivity;improve staff scheduling and teller management;increase sales opportunities; andimprove service quality and member satisfaction.According to a 2013 study by FMSI Teller Line, the average number of lobby transactions per branch has fallen 45 percent since 1992, because financial institutions have done such a good job of pushing consumers out the door with such options as ATMs, ACH, digital banking and remote deposit capture opportunities. In addition to creating unproductive staff time, this has resulted in a 124 percent increase in branch labor cost per transaction. Are resources needed to improve member service quality?A staffing study can help to determine if you have the right people with the right expertise in the right jobs. Additional tools, such as on-site visits and secret shops can uncover any areas where service can be improved or where additional training can lead to a more member-focused environment. Information gathered during these unbiased observations can also determine what resources might be required to make necessary changes, how much this will cost and how these changes will affect staffing before any plans for either adding staff or potential downsizing are put into place.Creating a formula for successConsumers have more options for conducting their financial transactions than ever before. Capturing their business for the long-term requires providing a convenient facility that combines the right amount of technology with motivated, highly skilled staff that can provide the added personal support that sets your credit union apart from the competition. If coming into your branch provides a positive experience where your members’ needs are met, they are more likely to be satisfied with the products and services offered, and more inclined to continue their relationship with your institution.About JMFAJMFA is a leading provider of profitability and performance-improvement consulting. For more than 35 years, JMFA has been recognized as one of the most trusted names in the industry for earnings enhancement and expense control programs, training and development, recruitment services, as well as product, service, pricing and technology-improvement consulting. Simply stated, JMFA’s programs and services are designed to increase income or reduce expenses.  JMFA is proud to be a preferred provider among many industry groups. To learn more about JMFA, please visit www.JMFA.com or call (800) 809-2307. 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Ron Jennings Ron is responsible for managing JMFA’s business strategies, including alliances and partner relationship development in support of national sales efforts. His extensive industry knowledge and experience in performance enhancement … Web: www.jmfa.com Detailslast_img read more

Report: Cardiff City Under-23s 2-2 Bristol City Under-23s

first_imgSecond-half goals from Kel Akpobire and Antoine Semenyo saw the away side draw level in a highly contested match against the young Bluebirds.City tried their best to play on the tricky surface with some nice interchanges early on and nearly took the lead through James Morton. He drifted through midfield and let fly from 25 yards, crashing his effort against the bar.However, Luke Williams’ side fell behind early on in the first half, when Mark Harris burst through on goal. One-on-one with Jojo Wollacott he slotted the ball calmly beneath the onrushing goalkeeper.City’s work was made harder when, five minutes from the end of the first half, Kyle Spence’s dangerous cross was deflected into the net to double the host’s lead.City needed a spirited second half and came out raring to go. Tin Plavotic went close with a header but was deemed to have fouled the ‘keeper, before Kel Akpobire got City back in the game.The ball bounced around the area before it fell to the forward who reacted quickest in the area. He prodded home from six yards to give City some hope.Cardiff’s Mark Harris continued to cause trouble for City, but the away side weathered the pressure the Bluebirds threw at them with Morton having a terrific afternoon in midfield.City continued to be patient and it was duly rewarded when the comeback was completed on 78 minutes. Antoine Semenyo received the ball in the area and finished neatly on the turn and beyond Ollie Byrne in the Cardiff goal.Cardiff had the ball in the back of the net again moments later, but Mark Harris was comfortably offside as he rounded the keeper.City Under-23s: Wollacott, Ali, Plavotic, Morton, Parsons, Harvey Smith, Zac Smith, Richards, Semenyo, Day, Akpobire. Subs not used: Harper, Sesay, Harry Smith. Report: Liam Potterlast_img read more

Dont miss out on the latest news and information

first_imgDon’t miss out on the latest news and information. LATEST STORIES Tolentino: No more debate with Drilon on China deal SMC bags Bulacan airport project PCSO to focus on improving transparency of gaming activities PLAY LIST 03:26PCSO to focus on improving transparency of gaming activities01:39Sotto open to discuss, listen to pros and cons of divorce bill06:02Senate to probe Tolentino’s ‘novel legal theories’ on oral agreements01:50Palace open to make Dengvaxia usable again as dengue cases spike01:49House seeks probe on ‘massive corruption’ in PCSO01:37PCSO estimates P250M in Lotto revenue loss due to suspension Read Next MOST READ The boy was brought to the town’s hospital while Aum surrendered to the police. /CORRESPONDENT CHRISTINE M. ESTRELLAFEATURED STORIESNEWSINFOSenate to probe Tolentino’s ‘novel legal theories’ on oral agreementsNEWSINFOLocsin wants to drop ‘visas upon arrival’ privilegeNEWSINFOPalace open to make Dengvaxia usable again as dengue cases spike A FOUR-YEAR-OLD boy was injured after he was hit by a motorcycle along the national highway in barangay Banigan, Badian town, southern Cebu.Police said the boy and his grandmother had just alighted from a tricycle when he suddenly crossed to the other side of the road and was hit by a motorcycle driven by George Aum.ADVERTISEMENT PM Boris Johnson visits Belfast as Brexit woes hurt UK economy What’s new in town: Eggplant parmigiana deep-dish pizza, tofu ‘kakigori,’ ‘kamias’-date sticky toffee pudding MORE STORIESnewsinfoFake cop accosts real cops, is arrested in PaterosnewsinfoAngara: Investigate DOH’s ‘constipated’ medicine distribution systemnewsinfoQuake disturbs Itbayat, Batanes anewMORE STORIESnewsinfoFake cop accosts real cops, is arrested in PaterosnewsinfoAngara: Investigate DOH’s ‘constipated’ medicine distribution systemnewsinfoQuake disturbs Itbayat, Batanes anew An adobo upgrade: Add rosemary Pagasa: Rain expected as LPA enters PAR Senate to probe Tolentino’s ‘novel legal theories’ on oral agreements View comments Carpio gets nominated as CJ for 4th timelast_img read more