Redwood Credit Union - IdeaScale

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REDWOOD CREDIT UNION

CASE STUDY

IDEASCALE

2 IdeaScale Case Study

Redwood Credit Union

Improving Customer Experience with Employee Ideas

Founded in 1950, Redwood Credit Union is a full-service financial institution providing personal and business banking to consumers and businesses in the North Bay and San Francisco. Their services include everything from checking and savings accounts, auto and home loans, credit cards, online and mobile banking, and beyond. And as part of their member-centric approach, Redwood Credit union is committed to providing exceptional service to Member-Owners, and to each other.

One of the things that sets Redwood Credit Union apart is their dedication to constantly improving the member experience. They have always rigorously collected feedback and ideas from their employees on ways to improve the customer experience, but in 2016 Brett Martinez wanted to enhance their system by using software that would make the process transparent and collaborative.

Redwood Credit Union promoted the use of the tool in a multichannel outreach campaign that included reminders to participate at the monthly company all hands meeting, launch emails and digest notifications to consistently re-engage employees, and messages from leadership about the importance of participation.

The team also pre-populated the member experience campaign with suggestions that they'd received in the past in order to encourage engagement when the program launched. Awards were given not just for the ideas that delivered the most impact (the voyager award) but also for the groups with the most engaged participants (the TME Award).

The team recreated the existing customer experience improvement process within the IdeaScale tool using stages functionality. Ideas are reviewed on a monthly basis according to this process:

1. A three-week voting and commenting period 2. The Idea Administration Team meets to discuss top ideas and triages promising

ideas to experts or asks for additional information from the idea author. 3. Experts assign an owner to the idea who rates the idea based on specific

departmental criteria. 4. The team then reviews the idea using the five-star assessment (criteria can include

things like "Innovative," "Viable," "Impact to Member Experience," "Effort," etc) 5. Top ideas are selected and passed to the relevant team for implementation.

In order to maximize the number of ideas that are implemented each year, the implementation team works first to find existing in-development programs and projects that align to promising ideas and attaches the idea to the project. This is one of the key reasons that the team has reported successful results in less than a year:

? Changes include multiple enhancements to the member experience, including mobile thumbprint ID, changes to customer receipts, new statements, and much, much more.

? In their first year, over 70% of the staff has engaged on the platform and worked to improve the member experience.

? Redwood Credit Union's goal was to implement 50 new customer experience ideas in their first year and they exceeded that goal by implementing more than 85 (and counting).

? The team has also noted an improvement to the credit union's overall Net Promoter Score and attributes that success (in part) to the member experience improvements that began as IdeaScale suggestions.

"The tool has taken our existing process and given it so much more power," says Andy Ramos, SVP/Member Experience, "the flexibility of the tool, the ability to easily collaborate and manage ideas has been critical to implementing so many new ideas in so short a time."

Redwood Credit Union will continue optimizing the member experience by leveraging the power of employee ideas.

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