Why Service Matters – Providing Businesses with Quality Support to Create Long Lasting Relationships

June 2024 – Article written by Kimberly Miller

In today's competitive business landscape, providing exceptional customer service is more important than ever. Customers have more choices than ever before, and loyalty is no longer as much of a concern when not satisfied with the service received. Excellent support from credit unions is essential for the growth and sustainability of businesses, as well, it can have a significant impact on the overall economy. This is why service matters, and why credit unions must prioritize providing quality support to create long-lasting relationships with their business members.

First and foremost, credit unions that offer exceptional support to their business members help to foster a strong sense of trust and re-establish loyalty. Business owners rely on their credit union to provide the financial resources and guidance needed to succeed. When a credit union goes above and beyond to support its business members, it builds a strong relationship based on trust and mutual respect. This trust is essential for businesses to feel confident in their financial decisions and to continue to deepen the relationship with their credit union long into the future.

Another reason why service matters is that the expertise from credit unions helps businesses navigate the complexities of the financial world. Running a business involves making a wide range of financial decisions, from securing loans to managing cash flow and investments. Credit unions that offer expert advice and education help business owners make informed decisions that will streamline operations and benefit their bottom line. Small and medium-sized businesses are the backbone of the economy, and when they thrive, they create jobs, drive innovation, and contribute to the overall prosperity of the community. By providing access to financial experts and resources, credit unions help businesses avoid costly mistakes, furthering the development of a long-lasting relationship.

So, how can credit unions provide quality support to create long-lasting relationships with their business members? It is vital to invest in training and development for member-facing roles. Even more critical is allowing employees to become subject matter experts in treasury management, lending, and other business specific areas. By providing employees with the skills and knowledge they need to effectively communicate with members and resolve their issues, credit unions can ensure that their businesses receive the support they need in the most professional and efficient way possible.

Another important strategy is to listen to member feedback and act on it. Business members are rapidly becoming a critical component to the future growth and success of a credit union, and their opinions and experiences should be taken seriously. By soliciting feedback from members and using it to improve products and services, credit unions can show businesses that their opinions matter and that their needs are being taken into consideration.

In conclusion, the importance of credit unions offering excellent support to their business members cannot be overstated. By building trust, providing expert guidance, and actively listening to feedback, credit unions can help businesses succeed and thrive. In doing so, they not only support the success of individual businesses but also contribute to the overall health and prosperity of the economy. Credit unions that prioritize excellent support for their business members are well-positioned to make a positive impact on their communities and help businesses reach their full potential.