March 2016 – Vol: 39 No. 3
First Financial Federal Credit Union shares its member happiness ratings in branch offices and online
Two months after deploying HappyOrNot Customer Satisfaction kiosks at each of its four branch locations, $182 million/18,700-member First Financial Federal Credit Union, Wall Township, N.J., is sharing its member ratings both online and at each branch location.
The credit union displays its HappyOrNot “Customer Interaction Report,” which consists of a large smiley face with summary results of positive vs. negative member feedback to a question posed at each kiosk.
First Financial FCU decided to go public with a monthly summary of its member satisfaction ratings to demonstrate to members that their feedback is very important to the credit union. The credit union anticipates that its positive member satisfaction ratings will grow from its initial January rating of 94 percent by up to five percent over the next several months as a result of using the HappyOrNot kiosks and reporting system.
During the second month of its HappyOrNot deployment in February, the CU had already increased its positive member satisfaction rating to 97 percent.
“Considering the average number of monthly transactions that occur at First Financial FCU branch offices and factoring the industry average of 1.2 transactions per visit, the 3 percent improvement in customer satisfaction represents over 400 member visits where the outcome was positive instead of negative as a result of the deployment of HappyOrNot kiosks,” says Ed Gundrum, CEO of DoublePort LLC, an authorized partner of HappyOrNot. “These are members who will value their relationship with the credit union and conduct more business there.”
“Optimizing our employee performance and member satisfaction are key goals of ours,” says Issa Stephan, CCUE, president/CEO of First Financial FCU. “By displaying the HappyOrNot Customer Interaction reports in our branches and on our website, we are demonstrating to our members that we are actively striving for 100 percent satisfaction with our service.”
The CU receives highly graphical, same-day reports via email from the HappyOrNot reporting system. The credit union uses these reports daily to identify the times that any anomalies in service occurred. This enables the credit union to address these items while the day’s activities are still fresh in everyone’s minds.
Prior to deploying the kiosks, First Financial FCU relied upon lengthy paper surveys to its members. “The results included low response rates and handwritten feedback that was often difficult to read and interpret,” says Jessica Revoir, AVP/marketing.
“Most credit unions realize a 3-5 percent improvement in member satisfaction within three to four months following their deployment of HappyOrNot kiosks at their branches,” adds Gundrum, who sells the units primarily to credit unions and banks. “This significant improvement helps credit unions maximize their bottom line revenue.”