by Kristin Moyer | April 8, 2011 | Comments Off on It’s Not Always Technology that Makes the Difference
Don Free and Kristin Moyer here. In anticipation of a potential government shutdown in the United States at midnight on April 8th, Navy Federal Credit Union has taken steps to engender customer loyalty. They have announced that they will cover the April 15 payroll for those active duty members who have their direct deposit of pay at Navy Federal. Navy Federal will also expedite approvals for lines of credit, overdraft programs and credit card limits.
Although active military won’t get paid if the government goes offline on Friday, their pay is being accrued and is guaranteed by the US government. So Navy Federal is not really taking a big risk by depositing the regular pay into their customer’s accounts, but they are building mega loyalty in the process.
It’s not always technology that makes the difference – smart play.
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes, with attribution to Gartner. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.