MELBOURNE, Fla.-Space Coast CU believes the member service issues resulting from its 2009 acquisition of Eastern Financial Florida CU are well under control in 2012.
Earlier this year Space Coast was the subject of negative local and national media attention regarding member complaints (Credit Union Journal, April 9). SCCU said the complaints, in part, stemmed from the 2010 Eastern Financial system conversion, when product and fee changes took effect, and from Florida's troubled housing market. The now $3.1-billion CU pointed out that it had acquired a $1.6-billion Eastern Financial, half Space Coast's current size, and that it would take time for service issues to subside.
Space Coast said it was able to begin focusing on recovering the levels of service to members this year and that they have been successful in most areas, especially mortgage lending. "In 2012, we experienced fewer mortgage complaints," said Laura Richard, VP of marketing.
"The federal government modified the Home Affordable Refinance Program (HARP) expanding help for homeowners previously unable to get traditional refinancing because the value of their home had declined. This year, as a result of HARP, SCCU was able to assist over 300 struggling homeowners by refinancing more than $55 million in HARP mortgages."
She noted that SCCU's Watchdog program is a rating system that allows members to tell how well CU products and services are meeting their needs. To date, SCCU has received a total 92,288 surveys, with an average rating of 4.6 out of 5, said Richard. "Member reviews, both good and bad, are displayed prominently on our website (www.SCCU.com). The feedback is used to drive continuous improvement, SCCU said.