Yes, you are reading this correctly. The Credit Union movement have shown trillion dollar businesses how it’s done. For the fourth year in row Credit Unions have come out on top in the Customer Experience awards. So while bank branches are being shut and the whole world scrambles to get on line and cut costs by reducing the number of touch points for their customers, the community finance specialists demonstrate how the personal touch still wins out.

What is really astonishing is that 70% of the individuals involved are volunteers so get no direct financial reward for their efforts. This really underlines the power of community.

People actually caring enough about other peoples well being and helping to ensure that there is flow of finances where it’s needed in communities. This is where it’s at.

Before I set sail for Singapore for the World Congress of Credit Unions this year I had the good fortune to meet with some of the staff in St Jarlath’s Credit Union in Tuam. A colleague and I had a meeting with two executives and while we waited in the foyer I could not get over how the staff warmly greeted and interacted in such a personable way with every member of the public that came through their doors.

It was a heart warming experience and one of stark contrast to how some of the bigger brands in finance that have walked away from this opportunity. I wonder is it complacency, arrogance, cost cutting, not caring or a perception that technology can do it all?

My view (and I am a total techie) is that technology can never replace this experience.

Even though we are looking at screens for virtually every waking hour, my belief is that the premium value interaction opportunities will always exist with face to face interactions.

Technology can only be a facilitator. People add the real value. Add the two together, however, in the right measures of course and you’re a real Bezos beater!

Thank you CX Company for this great metric.