Chapter 2

Great member experiences

Supporting our members goes to the heart of CUA’s purpose. In this unprecedented year, we have continued to invest in improving digital banking experiences, deepened our commitment to personalised service and launched support packages for those in need of financial assistance. We’ve also kept a clear eye on the future, ensuring our improvements can meet the evolving needs of our members.

Digital investments to improve customer experience

We continued investing heavily in our digital capability and technology infrastructure this year, delivering a more seamless and convenient experience. Many of these improvements have also helped our members to easily and flexibly bank from home.

Some of the enhancements delivered to digital banking services include:

These enhancements build on the industry-leading digital experience we have already delivered through services like real-time payments using PayID, and via our Apple Pay and Google Pay digital wallet offerings.

On the technology front, further upgrades to the mobile banking platform operating system have boosted stability and reliability for members. We’re also working on other planned improvements like greater self-service features so members can more easily report their debit card lost or stolen, or lock the card if it’s been misplaced.

Multi-channel personalised service

We’re dedicated to ensuring that our members receive the same, great personalised service regardless of whether they connect with us through our digital channels, over the phone or in person.

The iM CUA messaging app, which allows members to choose their own personal banker, continued to provide another convenient channel to connect with the CUA team. The app now has over 40,000 users, two-and-a-half times the 16,000 users registered a year earlier.

We also continued to transform our branch network this year with the relocation of our Perth branch to a new, fit-for-purpose location in late 2019. The new branch includes a community space and meeting room for public bookings, as well as a self-serve zone to access online banking.

Standing together with our members during tough times

Our COVID-19 Financial Assistance Package, launched in March, allowed members to defer repayments on residential mortgages or business loans for up to six months, with the ability to extend the loan term by the same duration. The package recognised the diverse needs of our members, extending beyond those with home loans and small businesses to members with deposits, personal loans and health insurance.

Since opening its doors in October 2018, our North Lakes branch has hosted around 100 events with more than 1,600 attendees. Many have become CUA members after engaging with us for the first time via an event in the community space.

We also offered a Disaster Relief Package to help rebuild and heal the communities devastated by the summer bushfire season. This included the option of suspending home and personal loan repayments, and waivers for loan fees and personal loan establishment fees.

This help has made a great difference to members, with 94 per cent of members who received our Financial Assistance Package indicating they were highly satisfied with their experience.

Focus on health outcomes

We continued to deliver service improvements for our CUA Health customers with the launch of an updated app. This allows policy holders to access a range of policy information, services and benefits on the go, claims history and to submit documents. A total of 33,404 claims were submitted via the app over the past year.

CUA Health adapted to support members’ continued access to health services while in isolation. This included paying benefits for members to participate in phone or video consultations from allied health practitioners spanning common services including psychology, speech pathology, dietetic advice (including nutritionists) and physiotherapy.

CUA Health also committed to cover policy holders for all in-hospital COVID-19 treatment irrespective of their level of hospital cover. Premium payments were paused on almost 500 health insurance policies where customers were financially impacted by COVID-19, while we deferred our annual premium increase by six months.

Growing member advocacy

Delivering a great experience for our members is why we exist and why we care about whether our members are likely to recommend us to their family and friends. We measure this through our Net Promoter Score (NPS), which continued to show significant improvements throughout the year and reflected our strengthened position as one of the market leaders. Satisfaction with credit cards and mobile banking saw some of the strongest gains, while our CUA Direct contact centre achieved one of the highest customer approval ratings of any financial services provider in Australia.

Our commitment to members also earned us external recognition, with award wins including: