The Bankwatch

Tracking the consumer evolution of financial services

Vancity proves that the entire organisation is behind their social web initiatives

Thanks to Trey for pointing out this web 2.0’ish response from Vancity … a Credit Union, but still a financial institution.  This kind of response from a Corporate Communications group of an FI makes me dive for the Kleenex.  Its brilliant, heartfelt, and real.  Here is a summary of what caught my attention, but click through to Trey’s post … trust me its worth it.  I will use this at NetFinance2007

Which Bank could have done this?  I never thought I would hear the day an FI would publicly use the word Technorati!!!!!

Blogging is a real challenge for us folks over here in Banking World. On the one hand it’s really helpful to hear directly from our customers about their service challenges (and about their positive experiences – thanks for the testimonial, Derek!). On the other hand we’re really limited in how much we can respond to any specific experience in a public space like a blog, because government regulations and our own policies impose very strict limits on what we can say about anybody’s financial relationship with Vancity.

All for good reason, but it makes blogging about an issue like this one (which in some ways we’d love to do!) very tough. It’s the tension between the transparency and authenticity that lie at the heart of blogging, and the critical need to offer the level of privacy protection that members expect and deserve. Please bear with us; we’re still trying to figure out how to interact with our members in the blogging world. And that’s meant it’s taken us longer than it should have to figure out how to respond to comments like yours.

That said – we do want you (and other BC bloggers) to know that YES we are watching and listening. We’re big fans of Technorati and when Vancity pops up on someone’s blog, that blog post makes its way through to our internal communications team. But our policy is to respond behind-the-scenes, for example by asking the Branch Manager to follow up.

Source: Vancity proves (again) they get social media


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Written by Colin Henderson

March 26, 2007 at 17:19

Posted in Social networks

8 Responses

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  1. Thanks Colin. It’s an issue we’ve been talking about a lot internally. It feels like a huge risk to comment on others’ blogs, especially someone you wish had a better customer service experience. I appreciate the good feedback from you and Trey. Helps us stay on track.

    I look forward to your Net.Finance session.

    William Azaroff

    March 26, 2007 at 20:09

  2. Colin,

    You’re going to NetFinance 2007? I didn’t see your name on the conference schedule. Are you speaking? I’m considering going, if I can make it, we have to meet up!

    Brad Garland

    March 26, 2007 at 20:30

  3. Holy crap. Just looked at the pricing sheets and at nearly $3,000 grand to go plus airline/hotel. I think I’m going to have to say nevermind. YIKES!

    Let us know how it went!

    Brad Garland

    March 26, 2007 at 20:36

  4. Brad…. yup am speaking on the 19th:

    Can’t speak to the pricing, but these events lean towards the, dare I say it, “old school”, so when this old guy gets up there, they had better look out…. no telling what I will say!W@$#@

    PS …. next year … check out LIFT08 in Geneva … its an amazing and mind broadening experience. We should talk one of these days.


    March 26, 2007 at 21:51

  5. William … I can’t say enough about what you guys, and Ed and the folks at Wells are doing. In particular, you two institutions in North America are leading this charge.


    March 26, 2007 at 21:53

  6. Wow, thanks Colin. That means a lot coming from you. I look forward to chatting in person in Scottsdale.

    William Azaroff

    March 26, 2007 at 22:02

  7. […] #2: Another post about my Vancity angst over at […]

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