Co-op Bank maintains highest customer service rating among local commercial banks

For a second consecutive year, the Grenada Co-operative Bank Ltd., (Co-op Bank) is maintaining the highest customer service rating among commercial banks on the island, with an overall rating of 86% for 2017.

Customer Service Supervisor, Tracy Joseph

However, this year’s figure represents a 4% drop compared to last year’s figure of 90%.

This information was disclosed by bank officials during a press conference at Venus Bar and Restaurant in Grand Anse last week Thursday.

Commenting on the rating, the bank’s Executive Manager in Charge of Corporate Banking, Floyd C. Dowden said, “We are still in the high 80’s, which we consider exceptional”, and that the bank is in the “process of analysing the results to see where we have lost some ground and so once that is identified we would obviously put things in place to correct those.”

Dowden pointed out that the bank’s Customer Service Charter, commenced in 2011 with the realisation that “in order to continue to be the banker choice for customers, it is imperative that we continue to provide excellent experience to our customers every time”.

“Our customer service charter is a firm demonstration of Co-op Bank’s commitment to always maintain high standards in satisfying the financial needs of our customers and ensuring that our customers enjoy an excellent experience with us each and every time they do business with us,” he remarked.

According to the bank’s Customer Service Supervisor, Tracy Joseph, “an annual independent Omnibus survey is conducted among the banks and we (Co-op Bank) have received the highest rating for customer service among commercial banks in Grenada.”

The Customer Service Charter focuses on two aspects – commitment to customers’ to deliver excellent service and promises on the standards that can be expected.

An internal audit of Co-op’s Customer Service Charter is conducted annually to measure the bank’s performance against its promises.

The charter is audited in the following areas: telephone service, banking facility, accounts opening procedure, electronic banking, loan processing and staff attributes.

Joseph said the bank’s facilities nation-wide received an average rating of “84%,” with high commendations for being exceptionally “suitable, especially for persons with special needs, being safe and secure and customers were confident that their personal information remained private.”

She announced that an average rating of “79%” was received for the bank’s telephone service.

“While calls were not always answered within three rings, (the) customers service representatives were highly rated for being courteous and helpful, handling questions and problems received over the telephone satisfactory,” she said.

The Bank received a rating of “84%” in the area of account opening procedures.

“At Co-op Bank, we are committed to ensure that our account opening procedures are simple and (that) the amount required for opening an account remains the lowest in the industry (at $25),” Joseph said.

The female supervisor told reporters that while loan processing standards were not always met, the bank has “recorded improvements in our response time applications”.

“Our loan fees remain affordable despite the challenges at the market. We continue to operate in a highly competitive environment and will do our best to meet the needs of our customers by building a deeper relationship,” she said.

According to Joseph, the bank received a rating of “72% in the e-banking category, (while) staff attributes received exceptional ratings with an averaged 82%, for being responsive to customers being friendly and courteous and maintaining a professional appearance.”

Co-op Bank’s Executive Manager in Charge of Commercial Banking, Floyd C. Dowden

She said, overall, “65% of the bank’s customers indicated (that) they were satisfied with the bank and 28% indicated (that) they were somewhat satisfied.”

The Customer Service Charter was audited this year by Pannell Kerr Forster, PKF Chartered Accountants and Business Advisers and was conducted over a 1-month period.

Currently, the bank has a client base of more than 50, 000 customers.

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