Many credit unions offer superior customer service, but self-service coin counting machines help them provide an additional offering to impress members and increase branch traffic. This can help these financial institutions adapt to new industry challenges.
Credit unions share many similarities with small businesses, which means they should prioritize innovation, according to Credit Union Insight. Because financial institutions operate in a strictly regulated environment, it can be difficult to implement new strategies. However, regulation is necessary to minimize risks. More industries are adopting new technology at a quicker pace than ever before, and credit unions need to follow suit to keep up because other businesses have changed members' expectations about customer service offerings.
Consumers tend to gravitate toward brands that prioritize customer experience, and this will continue to gain emphasis in many sectors, including personal finance, a separate article from Credit Union Insight said. Individuals are far less tolerant of poor experiences; in fact, they are more likely to voice their opinions on social media. This could significantly hurt member sentiment in credit unions if left unchecked. Credit unions that prioritize customer service and focus on providing the best experience possible will be able to gain an advantage over other financial institutions that do not.
Providing convenience for members should be a consideration when implementing new technology in credit union branches. Coin counting machines can facilitate this approach. Consumers appreciate self-service options, and offering these systems in branch locations where members already go can prevent them from having to make multiple errands. Many people collect spare change over time, and it can be tedious to exchange it for cash. Self-service coin counters are one way that credit unions can leverage high customer service practices.
July 18, 2014