|
At Manitoba credit unions, members come first. This means working proactively to understand their unique needs and continually adapting service and guidance as needs change over time. Or in the case of 2020, as conditions changed seemingly overnight.
THE COVID-19 PANDEMIC CAUSED MEMBER CONTACT VOLUMES AT CAMBRIAN CREDIT UNION TO JUMP BY 400%.When the pandemic was declared in the spring, credit unions adapted quickly to public health advice, encouraging members to use telephone or virtual options in place of in-person experiences. In some cases, employees were redeployed to the areas of greatest need. Cambrian Credit Union, for example, saw member contact volumes increase by 400% through phone and digital channels.
“This required an immediate shift in services to ensure our team was adequately staffed and properly equipped to offer our members a seamless experience when advice and support were needed the most. We are pleased to share that due to these efforts, we delivered an average wait time of under 30 seconds for member inquiries,” says David Mortimer, President and CEO of Cambrian Credit Union. |
The importance of credit unions to the communities they serve is nicely expressed in this sidewalk art from the pandemic’s earliest days.
|
As the pandemic created financial uncertainty or hardship for many Manitobans, credit unions responded by ensuring members were aware of and able to access financial support. Credit unions developed lending relief policies, making principal and interest deferrals available for up to six months for members in need. Like many credit unions in the province, Assiniboine Credit Union took a proactive approach, reaching out directly to members.
“It was really important to take the time with our members to work through their questions and challenges,” says Andrea Dysievick, Chief Advice & Service Delivery Officer. “We wanted our members to know that we were here to support them and connect them with the advice and resources they needed during this difficult time.”
All of Manitoba’s credit unions offered some form of lending relief during the pandemic. Whether it came in the form of payment deferrals or simply allowing members to make interest-only payments, these measures provided relief for many who were experiencing financial hardship.
Fusion Credit Union initiated conversations with their members to check in on their health and financial wellbeing.
“It was really important to take the time with our members to work through their questions and challenges,” says Andrea Dysievick, Chief Advice & Service Delivery Officer. “We wanted our members to know that we were here to support them and connect them with the advice and resources they needed during this difficult time.”
All of Manitoba’s credit unions offered some form of lending relief during the pandemic. Whether it came in the form of payment deferrals or simply allowing members to make interest-only payments, these measures provided relief for many who were experiencing financial hardship.
Fusion Credit Union initiated conversations with their members to check in on their health and financial wellbeing.
EVERY ONE OF MANITOBA'S CREDIT UNIONS OFFERED SOME FORM OF LENDING RELIEF TO MEMBERS DURING THE PANDEMIC.
“In some of our communities, pre-pandemic, we still had so many members coming into the branches,” says Leanne DeVliegere, Chief Operating Officer (COO) of Fusion Credit Union. “We are talking about hundreds of people a day in some locations. We reached out to discuss ways they could safely get done what they needed to do, without having to come into the branch.”
Like many other Manitoba credit unions, Fusion started waiving certain transactional fees, such as e-transfer fees, to encourage members to make their transactions in the safest way possible.
Credit unions also worked to provide guidance and connect members to the various government programs offering COVID-19 relief options. This included adding dedicated COVID-19 resource sections to their websites and issuing blogs or newsletters to provide updates and guidance as conditions shifted over the year.
Casera Credit Union maintained their dedication to financial literacy by sending out weekly emails with guidance and resources. Casera previously prioritized financial literacy for their members by offering in-person classes and seminars.
The pandemic made in-person classes impossible. “Given the uncertainty facing both members and the economy, it was important for us to continue providing this education to our members,” says Serena Streilein, Executive Assistant at Casera Credit Union.
In partnership with The Credit Counselling Society, Casera was able to direct members to free financial literacy workshops. “We highlighted the ongoing webinars for our members. We also surveyed members to determine their interest and identify the topics that were most important to them.” In November, Casera worked with the Credit Counselling Society to host a virtual event exclusively for Casera members.
Like many other Manitoba credit unions, Fusion started waiving certain transactional fees, such as e-transfer fees, to encourage members to make their transactions in the safest way possible.
Credit unions also worked to provide guidance and connect members to the various government programs offering COVID-19 relief options. This included adding dedicated COVID-19 resource sections to their websites and issuing blogs or newsletters to provide updates and guidance as conditions shifted over the year.
Casera Credit Union maintained their dedication to financial literacy by sending out weekly emails with guidance and resources. Casera previously prioritized financial literacy for their members by offering in-person classes and seminars.
The pandemic made in-person classes impossible. “Given the uncertainty facing both members and the economy, it was important for us to continue providing this education to our members,” says Serena Streilein, Executive Assistant at Casera Credit Union.
In partnership with The Credit Counselling Society, Casera was able to direct members to free financial literacy workshops. “We highlighted the ongoing webinars for our members. We also surveyed members to determine their interest and identify the topics that were most important to them.” In November, Casera worked with the Credit Counselling Society to host a virtual event exclusively for Casera members.