Stabilization
Building a Strong Foundation for Growth
January through September of last year, our primary focus was on creating a consistent, high-quality experience for both our members and staff—a critical necessity following our 2023 merger and the accompanying banking system conversion. This period of transition introduced significant change and temporary knowledge gaps, impacting service across the organization. Recognizing the urgent need for consistency, we launched a dedicated stabilization period at the outset of 2024, with the ultimate goal of placing our credit union on a strong, confident footing for sustainable growth and service excellence.
Enhancing Member Communications
A major piece of this was tied to member communication and feedback. In response to the challenges in this area we saw emerge from the merger, we worked to significantly expand our channels for member communication:
- Expanded Feedback Options: We introduced both in-person and online avenues for members to share their feedback. These new channels were designed to capture diverse insights and ensure that every member voice was heard.
- One-on-One Meetings: Throughout the first half of the year year, members had the opportunity to engage directly with our top leadership. One-on-one meetings, either face-to-face or via phone, were held with our CEO, COO, and Director of Retail Sales. This direct line of communication allowed us to address concerns personally and gain valuable insights into our members’ experiences.
- Open House Meetings: We hosted open house sessions at each of our locations, where members could come together and discuss any issues or ideas in an informal setting. These sessions fostered a spirit of openness and collaboration, reinforcing our commitment to transparent and responsive communication.
- Member Advisory Committee: The first of which was held to discuss Corporate Social Responsibility. These meetings were held with select members May through September.
"In this new era of constant change that credit unions are facing, it's crucial that we prioritize investing in the members and staff of StellerVista. We are committed to ensuring that our staff can thrive in their roles and, ultimately, deliver unparalleled member experiences."
Jody Burk
CEO
Investing in Our Staff
To ensure our employees were well-equipped to meet our high standards of service, we made significant investments in training and support:- Comprehensive Training Programs: Recognizing the importance of a well-trained team, we invested heavily in training initiatives. Our focus was on ensuring every staff member had the knowledge and skills to excel in their roles.
- Dedicated Trainer: We hired a dedicated trainer to provide ongoing support and development for our service staff. This role was pivotal in offering personalized training sessions, ensuring that our teams had continuous access to the latest best practices and industry insights.
- Upgrading Equipment and Software: We also identified that aging equipment and outdated software were becoming challenges. In response, we took significant steps to upgrade our IT network infrastructure, which now offers enhanced security and improved system uptime. These upgrades not only protect our systems but also empower our staff with reliable, modern tools to perform their roles effectively.
Outcomes and Future Commitment
While the stabilization period was somewhat reactive, in response to challenging period of change, it was a critical component of our change management process. The focused investments in training, communication, and technology have already proven their worth:- Improved Service Levels: By the latter part of 2024, we observed a notable turnaround in service quality, with enhanced member satisfaction and increased sales numbers.
- Stronger Staff Confidence: The dedicated training and support initiatives have boosted staff confidence, enabling them to deliver exceptional service more consistently.
- Purposeful Investment for Tomorrow: This purposeful investment of time and resources was made with the long-term outcome in mind—to secure a stable and thriving future for our credit union.