4 Elements Customers Want in a Bank or Credit Union

    Jul 14 2015

    Topics: Credit Union, Bank Branch

    Even though more and more of your clients are altering their banking methods to include telephone and online banking, use of ATMs, and remote cheque depositing, they still expect certain elements when they walk into your bank or credit union.

    Your customers are the lifeblood of your bank or credit union. Without them, you would have to close your doors. You can’t stay in business if all of your customers are unhappy with your service and switching over to other financial institutions that provide them with the customer service they want and need.

    To increase customer loyalty, make sure that your bank or credit union provides these four critical elements that all clients look for.


    When it comes to their money, your customers expect and demand accuracy. They won’t settle for miscounted cash, being short changed, or any other type of human error, as innocent as these mistakes might be. They expect better than that from your customer service representatives. The easiest way to lose your customers’ trust is to make mistakes with their money. To ensure accuracy with each transaction, automation is key. Technology has come a long way, and implementing automated cash management solutions that boast a 99.9 percent accuracy rate, can allow you to keep you customers’ trust in your business. They’ll never have to worry about losing out, getting frustrated, or wasting time dealing with cash handling mistakes on your end.


    With the fast pace that society is used to, it’s no wonder individuals get frustrated at the thought of going to their financial institutions. Even if they do have spare time to do their banking face-to-face at a branch, it’s certainly not likely that they enjoy standing in long lines waiting to be served. They have better things to do. And this is why speed is critical. You can get those lines moving by using cheque scanners and cash and coin recyclers. The fewer transactions that have to be handled manually, the faster your customer service representatives can process transactions on the front line, and the happier your customers will be, because they’ll be in and out quicker than ever. They won’t associate your financial institution with wasted time. 


    Customer engagement is important in a bank or credit union. If your CSRs are spending all their time looking down, focusing on manually counting and sorting money, they’re probably not even making eye contact with your customers or making sure to smile and be welcoming, let alone engaging with them. At this point, they’re probably not asking them if there’s anything else they could do for them, they’re not asking them about their needs, they’re not making customers feel appreciated and cared for. And when your CSRs make your customers feel like numbers instead of people, you risk losing them. With cash management solutions doing all the work, your CSRs will have a few extra precious moments to engage with your customers, which will increase loyalty.


    This is a no-brainer. Customers expect that their money is safe with your bank or credit union. If you can’t supply security, you won’t have any customers. No one wants to be defrauded because your bank procedures are archaic. To ensure the safety of their money, make sure you’re using top-of-the-line, current technology in your financial institution. Automate as much of the process as you can to prevent internal theft and robbery and update often before criminals figure out how to hack into your systems. It’s the responsible thing to do.

    When you use cash management solutions, such as currency and coin recyclers, cheque scanners, and coin/bill counters and sorters, you can increase customer loyalty by providing clients with the four elements that they expect: accuracy, speed, engagement, and security.

    How to Improve Your Business With An Automated Cash

    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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