Client background

A mid-size credit union headquartered in Indiana with $3 billion in assets, almost 300,000 members.

The business challenge

• Cumbersome member application for staff and members – While new members were completing electronic applications, credit union staff had to find workarounds and adjustments to a challenging process not leaving much time for staff to cross-sell.
• Shifting population – With the credit union’s member base increasing in age, they were challenged with maintaining a solid membership base and identifying experiences that appealed to a younger member segment.
• Waning member experience – The credit union lacked an understanding of how its members felt about their experiences with the credit union. They needed to understand how to capture details around what members wanted, when they wanted it, and how to meet those needs.
• Branch focused – A high touch, high relational, and branch-centric environment made it difficult to attract new members seeking a more digital or virtual experience

The baker tilly approach

• Current state analysis – Gathered and analyzed existing member data, conducted member and staff interviews and directed ethnographic interviews.
• Current state journey map – Collaborated on development of a journey map that reflected the current state analysis work.
• Innovation workshop – Hosted a collaborative brainstorming session with credit union staff across various levels and departments to innovate around the member experience identified in the current state journey map. The innovation workshop focused on all phases of the member journey.
• Member experience survey – Created and executed a survey to solicit member feedback on the top ideas generated during the innovation workshop. Data from the survey was plotted against the Kano Model to identify experiences that could enhance or improve the member experience.
• Future state journey map – Created an actionable future state journey map based on survey results.

The business impact

• Seven key member experience initiatives were agreed upon by the credit union team.
• A 12 month actionable roadmap and project charters to align need, urgency, resources (human, systems, processes, etc.) were developed for implementation.
• Identified and validated new member experience priorities for the credit union, such as:
  
• Upon implementation of select initiatives, the credit union is better positioned to achieve its goals of personalizing member connections, exceeding members’ expectations, and simplifying the member experience over the next 6 – 12 months.
• “Online Financial Advisor” where a member can chat with an experienced financial advisor whenever and wherever they desired.
• “Online Chat” where members can chat or FaceTime a credit union team member, ask questions, set up bill pay, etc.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.