I am just nearing completion of a kitchen renovation; for
those of you who that have ever renovated a piece of your home, you can relate
to the fun of living through a construction zone. Surprisingly, the
construction was actually the least stressful part, mainly due to a patient and
understanding contractor. The main issues I ran into was with suppliers who
failed to address a simple fundamental business concept: SERVICE! My new
Samsung dishwasher came complete with a faulty part that caused it to leak and (thankfully)
display an error code. Calls to the warranty department were met with
roadblocks after roadblocks, with staff not really caring about relationship
building or developing loyalty, instead following a scripted process that made
little sense. A simple repair of a $50 retail part after three weeks turned
into a moving truck taking away my new dishwasher--apparently, that was cheaper
than having someone come and repair the unit! As I still await my refund, I
can’t help but think the process does not have the best interests of the
customer in mind. I don’t have a dishwasher or the money I paid for it a full
month after I purchased the unit.
I am simply one of millions of customers that purchase
Samsung products and I guess my business is not important. After all, the
company’s main focus is on driving profit and meeting share price expectations
for its shareholders who are not necessarily their customers. They must produce
quality products otherwise sales would suffer, but why neglect the service? Sales
and service should compliment one another, adding customer value. The problem
lies with ownership! I have little influence over Samsung polices, procedures,
products, services, or staffing. I am a consumer so I simply consume the goods
produced by the company if I like them, and that is where it ends.
The Credit Union model is fundamentally different, a fact
which most members are likely not even aware of. To use the services of a
credit union you must first become an owner. You purchase your shares which
then provides you with access to all the products and services the credit union
offers. The shares you pay makes you an invested owner with also means that you
have input on how your credit union is run and ways in which it may be improved.
Most members simply want to avail of the products and services--and there is
nothing wrong with that--but it is always nice to know that, as an owner, your
opinion is valued and taken seriously. I know I wish my concern on my
dishwasher could have been heard or taking seriously but that was not the case.
The
vision statement of LECU was changed to focus on assisting members reach their
financial goals with their best interests in mind. The focus is on people, not
profit, and initiatives, such as low fees, more services, and a strong focus on
advice, are put in place to support this vision.
In the most recent member survey, members indicated that
97.2% were satisfied with their relationship with LECU. In the word cloud that
was captured when members were asked why they feel this way, the word service
was prominent in member responses. Members are the owners; the purpose of the
staff is to serve the owners daily and ensure they assist them in meeting their
financial goals. It is vital that we continue to have the necessary policies,
procedures, and standards in place to continue to provide superior service.
