Coast Capital members report high satisfaction; rank service and innovative products as top priorities

Coast Capital Savings members have spoken – and the word they’re saying most clearly is “satisfied.”

Nearly 90% of those surveyed by Ipsos as part of the Have Your Say member outreach campaign in late 2013 said they were satisfied or very satisfied with Coast Capital as their financial institution. Ten per cent indicated they were neither satisfied nor dissatisfied.

“We’re pleased to have such a strong satisfaction rating among our members – that tells us we’re focusing on the right things, providing them with the right services and products, and running their credit union the way they’d like,” said Tracy Redies, CEO.

Eighty-five per cent of members surveyed also said they believe there is value in their membership, something which Coast Capital is planning to explore and enhance even further in the coming months.

The Ipsos survey was only one part of the campaign, which also included an informal online quick poll that all members could access. Redies noted that the results from the quick poll mirrored those from the Ipsos poll – an encouraging sign that a diverse cross section of Coast Capital’s 504,000 members participated.

In the quick poll, members ranked these top priorities for their credit union:

#1: Helpful and knowledgeable staff (62% ranked it #1 or #2)

#2: Innovative products and services (50% ranked it #1 or #2)

#3: Helpful mobile /online tools (43% ranked it #1 or #2)

#4: Expansion to more communities: (17% ranked it #1 or #2)

#5: Community giving (11% ranked it #1 or #2)

“We are taking what members are saying seriously and moving forward on all of the items they deemed as top priorities,” Redies said. “For example, access to e-transfers and more mobile options was identified as a top request. We launched e-transfers this week and have an Android app in development to launch later this year.” Members can visit Coast Capital’s website to learn more about how their credit union plans to address each of their top priorities.

During the Have Your Say campaign, members were also asked for their perspectives on Coast Capital’s Board of Directors election process. Members told us:

  • When recruiting for new Directors, candidates with finance, treasury or banking experience are preferred
  • A sense of corporate social responsibility and community values is considered important for a prospective director
  • Candidates should share information about their professional career and personal values

“Members had some excellent suggestions to help guide the nomination process for our Board, and several of their questions were posed to potential candidates for the 2014 Directors’ Election,” noted Christian Findlay, Board member and Chair of the Nominations Committee. “We have more than 500,000 members who have a voice in how our credit union is run, and our members are empowered to vote for vacant positions on the Board of Directors each spring. This polling gives us insight into the things members want to know about the candidates who will represent them, and what qualities they’d like discussed. We think that creates an even more meaningful election process.”

Another way members are having their say is through the Director Compensation Task Force. Every member was invited to apply to volunteer for this task force, analyze the Director Compensation Philosophy and report back to the broader membership. Their work is nearly complete and their report will be released to all members in the coming weeks.

Visit our website for more information on all of the findings from the Have Your Say campaign and the Compensation Task Force.

For information on changes to deposit insurance and the transition period if we become a federal credit union, see the notice pursuant to the Disclosure on Continuance Regulations (Federal Credit Unions).