Credit unions need to stay on top of the latest banking technologies, but they should also keep in mind that face-to-face interactions are still vital. How a member interacts with credit union employees in person is likely to have a huge impact on his or her opinion of the organization as a whole, even if the convenience of online and mobile banking is appealing enough that those interactions are rarer now.
An infographic compiled by CT Business Travel and NeoMam solutions showed 78 percent of generation X respondents and 80 percent of millennials say they would much rather communicate face-to-face. For business matters, this number rises. Eighty-seven percent of all professionals surveyed said they'd rather meet face-to-face to close a business deal - and this could extend to transactions at a credit union like originating a new account or a loan. Managing the business relationship also takes face time, according to 95 percent of survey respondents, which credit unions should take to heart when cultivating relationships with members.
The infographic also noted benefits of face-to-face interaction that are harder to measure. For example, it's easier for a credit union member or prospective member to get an idea of the organization's culture in person than it is on even the best website. It's also easier to cultivate trust in person, which is an important consideration for financial relationships.
Credit union leaders may want to share this infographic and its information with their staff, particularly those who spend a lot of their day interacting with members. A reminder of just how critical in-person interaction is to an organization may just inspire staff to be mindful and put on their best face at all times.