ActionPoint were delighted to attend CUMA’s Autumn Conference – Accelerated Change, Pressing Pause Is Not An Option. We heard from a fantastic host of speakers, who shared an underlying theme of embracing change and looking ahead. Let’s take a look at some of the key takeaways from the event.
Enhancing Member Engagement Strategies
Cathal Tyther- Manager, The Solution Centre
“Technology will support Credit Unions in being the trusted financial advisor at scale”
Although Credit Unions have a fantastic ability to communicate with their members on the ground, a Member Engagement Strategy is the keystone of business model development. It must be focused on improving member participation and financial performance through Credit Union’s communications, according to Cathal Tyther.
A stronger reliance on IT and Digital Marketing tools to begin a shift from demographic focused segmentation to a more personalised approach and using data driven insights rather than research driven, will ensure that you are reaching your customers in the right way. Utilising technology to personalise communications that recommend appropriate products and services and automating engagement procedures like onboarding, will help your Credit Union to enhance member engagement going forward.
Leadership & Forward-Thinking Strategies
Alan O’Neill, Managing Director, Kara
“Culture creates a rhythm in business.”
Alan O’Neill spoke of the importance of harnessing a positive culture for change within Credit Unions to the benefit of members and employees. He also highlighted four key values that should take priority for Credit Unions, which included: Commerciality, Accountability, Respect and Agility. Mr. O’Neill said that as world demands change Credit Unions too must adapt with the times, in a bid to attract millennial members and create a sustainable business, driving value for members with great financial solutions and dividends.
Leading Through Change – Dealing with Burnout & Fatigue
Fiona Buckley- Managing Director, Steps to Success
As Credit Unions navigate this period of change and work towards the future, it can lead to a certain level of opposition or resistance to change within the team. According to Fiona Buckley, an individual’s degree of resistance to change can be determined by:
- Whether they perceive the change as good or bad
- How severe they expect the impact of the change to be on them
Their ultimate acceptance of the change is a function of how much resilience the person has and the quality of their coping skills and their support system. As Alan O’Neill covered in his talk, creating an environment where your team embraces change and feels supported in their journey is essential to delivering the best possible experience for your customers.
ActionPoint have been a trusted Digital Transformation Partner to Credit Unions for over 16 years. We have worked with branches across the country to help them navigate through times of change, support them on their technology journey and help them to deliver a premium service to their customers. If you would like to learn more about our Credit Union Services, click here or email firstname.lastname@example.org for more info.