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GreenState Credit Union Enhances Efficiency and Member Experience with LiveChat

Applicable Industries

Finance & Insurance
Telecommunications

Applicable Functions

Quality Assurance

Use Cases

Inventory Management
Time Sensitive Networking

The Challenge

GreenState Credit Union, Iowa’s largest credit union, operates on a lean model, relying on strong talent and highly efficient processes. The credit union aims to return the savings from their efficiency to their members in the form of better rates and lower fees. However, they faced a challenge in maintaining this efficiency, particularly in their communication with members. Traditional phone communication was not efficient as it allowed one employee to speak with one member at a time. GreenState needed a solution that would allow their employees to interact with multiple members concurrently, thereby increasing their efficiency. They also needed a solution that would integrate well with their platform, provide an excellent user experience, and come with robust reporting tools for tracking their efficiency gains.

About The Customer

GreenState Credit Union, organized in 1938, is Iowa’s largest credit union and one of the top financial institutions in the United States for returning profits to members in the form of better rates and lower fees. The credit union operates on a lean model, relying on strong talent and highly efficient processes. GreenState is committed to providing excellent service to its members and uses innovative solutions like LiveChat to enhance its efficiency and member experience. The credit union also has a strong commitment to inclusivity, as demonstrated by its use of LiveChat's Message Translator to assist its Spanish-speaking members.

The Solution

GreenState found their solution in LiveChat, a tool that allowed their chat specialists to interact with multiple members at the same time. The use of LiveChat has grown significantly over the years, and GreenState now directs inbound contacts to it whenever possible. The credit union has also been working on a new identity verification system in LiveChat, which allows a specialist to authenticate a member by seeing that they are signed into online banking within LiveChat. This eliminates the need for the normal verification process, saving time and improving the member experience. LiveChat also proved to be a valuable tool during the pandemic, allowing GreenState to quickly transition their chat team to remote work without any disruption in service. Despite the increase in chat volume during the pandemic, GreenState only had to add a few people to handle the additional volume, thanks to the efficiency of LiveChat.

Operational Impact

The use of LiveChat has had a significant impact on GreenState's operations. The tool has allowed the credit union to serve more member contacts more effectively, leading to higher Net Promoter Scores (NPS) for contacts that come through LiveChat compared to those that come over the phone. The personal connection developed over chat has been beneficial in creating a lasting impact and leading to higher NPS. The efficiency of LiveChat has also allowed GreenState to substantially lower their overall cost per interaction, which is a key measure of their success. Furthermore, LiveChat has enabled GreenState's chat specialists to make substantially more recommendations and introductions than their phone counterparts, helping members see GreenState as their trusted financial partner.

Quantitative Benefit

GreenState's seven chat specialists handle more than a third of the Member Assistance Center’s total contacts for the year.
During the pandemic, despite a substantial increase in chat volume, GreenState only had to add a few people to handle the additional volume.
LiveChat substantially lowers GreenState's overall cost per interaction.