By Barb Kachelski, CAE
“Your members don’t care,” came to my mind in a flashback from CUES’ CEO Institute II at Cornell University. The statement was not disparaging of either the credit union or the member. What the professor was getting at is that to a member, your credit union’s processes or problems don’t matter. What matters to them is whether you can fulfill their needs.
The flashback came as a result of my credit union experiences preparing for an international trip. I contacted my credit union to notify staff I would be using my ATM/debit card in China. I was informed that it would not work there unless I wrote a letter explaining that I wanted to use the card in China, and that I would be personally responsible to repay any fraudulent use of the card.
Needless to say, I was disappointed in the answer. I have been reading extensively about the enormous issue that credit card fraud is presenting to credit unions. So, while I understand the issue at the logical level, at an emotional “member” level, I was very disappointed.
For this trip, I won’t be using an ATM card. Instead I went to my CU and purchased traveler’s checks. These are safer for my credit union but riskier, in some ways, for me: Have I estimated the cash I will need appropriately? What if I need more?
The teller explained that staff is looking into stored value cards that could be used by members like me who are traveling internationally. What a great idea!
But until this solution is available, how many members will care enough to remain loyal?
It seems like there should be a better way! How is your credit union handling ATM/debit cards for international travelers, while protecting itself from unnecessary risks? Share your ideas by clicking on “Comments” below.
Barb Kachelski, CAE, is SVP/chief information officer at CUES, Madison, Wis.
