Why First Call Resolution is Key to Member Loyalty

Every credit union member wants their question or problem to be addressed quickly and easily—and on the initial phone call. First Call Resolution Rate (FCRR) is the percentage of calls resolved on the first call without being transferred to another agent. It’s a primary driver of member loyalty.

According to a 2009 report by The Ascent Group, “First Call Resolution is perhaps the most powerful call center metric. When you improve FCRR you’re improving quality, reducing costs, and improving customer satisfaction, all at the same time.”

The key to having a great FCRR is installing the proper tools to ensure the caller reaches an agent who can resolve their concern. This requires:
· A call routing system that sends questions about mortgages to the lending department or questions about password resets to the technical support department.
· Scripting to ensure that each call is handled both consistently and accurately.
· Specialized training to help Call Center representatives empathize with members and communicate concern.

Recorded calls should be used to evaluate representatives both to reward them for excellent service and to offer more training if needed.

Business continuity is also essential—not just for power outages or natural disasters but also for temporary situations like the recent San Francisco Bay Bridge closures, which affected the ability for credit union employees to get to work. What is your credit union’s business continuity plan for ensuring member support during an emergency or special event?

Many credit unions deliver great member service, but tracking and measurement tools are needed to validate the level of service provided. Successful Call Centers track wait times and abandonment rates, first call resolution and whether accurate and consistent information is being delivered to your members.

Bottom line: If you are able to resolve questions or concerns in the first call, your credit union is building a life-time relationship with its members.