The Grenada Cooperative Bank Ltd. is particularly pleased with the results of the recently concluded audit of its Customer Service Charter, which gave the bank an overall satisfactory rating of 95%.
The 2016 audit was conducted over a period of two months by independent auditors from PKF International Ltd., a chartered accounting firm that provides a wide range of quality and professional accounting and business advisory services.
Revealing the results of Customer Service Charter during a recent press conference at the bank’s Church Street office, Managing Director of the bank, Richard Duncan noted that the majority of “677 Co-op bank customers were interviewed face-to-face by the auditors throughout the five bank outlets across the island.”
He said, telephone interviews were also conducted with the business customers, while specific interviews were also conducted at several of the bank’s ATM locations.
According to Customer Care Supervisor at the financial institution, Tracy Joseph, the “banking facilities were commendably rated as being suited for persons with special needs and customers were confident that their personal information was private.”
“We take pride in providing our customers with a comfortable environment whenever they conduct business with us,” she said, noting that “on average, our banking facilities were rated by our customers as being comfortable achieving an overall rating of 86%.”
She also pointed out that the bank’s staff attributes received “exceptional rating of an average 95% for being friendly and courteous, responsive to customers’ needs and maintaining a professional appearance.”
Joseph said that Co-op Bank can “boast of having affordable loan fees” even though loan processing standards were not always met resulting in a decline in the rating with retail loan at 57%, mortgage loan 38%, commercial loan 51%, attractive interest rates 58% and affordable loan fees 76%.” Co-op’s electronic banking services received an average rating of “82%.”
The bank’s Customer Service Charter commenced in 2011, as a demonstration of its commitment to provide high standards of customer experience in doing business with the public.
The bank’s managing director said the initiative is part of the company’s “strategy of customer centricity where we place our customers first and at the center of what we do.
“We consider ourselves as trailblazers in this field,” he said, adding, “It therefore gives me great pleasure to honour one of the commitments in that charter, which is to conduct an annual audit by an independent audit firm of the promises that we have made to determine how well we have adhered to those promises and what it is the customers of the bank have said about the bank and the services that we offer and the commitment that we have made in terms of the high quality of experience that they would encounter.”
According to Duncan, the “telephone experience in all three areas have hit above the 50% mark. In fact, the customer service courtesy and helpfulness is at 94% and question/problems handled is at 88%.”
The other area of calls answered in three rings received a rating of 58%.
While the audit was specifically done on the bank’s customer service charter, based on an annual Jude Bernard and Associates market survey of financial institutions, Co-op Bank was rated the highest among the local commercial banks in 2015 for customer service.