Customer Effort, Member Experience, and Credit Union Digital Transformation

The American Customer Satisfaction Index (ACSI) is an annual survey conducted by the University of Michigan’s Ross School of Business. It measures consumer satisfaction with the goods and services provided across a broad range of industries.

This last year, the survey found that banks surpassed credit unions in customer satisfaction.

While it certainly doesn’t sound the death knell for credit union claims of better member experience, it raises some interesting questions—and serious concerns. And, in many ways, it reminds us that digital transformation is still a pressing need in the financial realm.

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5 easy ways to start your credit unions digital transformation

Digital transformation. Omnichannel. Cloud. Blockchain. Artificial intelligence. Who knows the next buzzword that will strike the credit union industry? It feels like there is always a new hot topic. In fact, it’s hard to know what’s important—and what isn’t.

With that in mind, many credit unions ask me:

What are the easy ways to start our credit union’s digital transformation?

I can think of five easy ways to start.

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