ecently, the Eighth Federal Reserve District sent out several surveys.The District is committed to obtaining information from our variousconstituents so that we can improve our service. “We feel this is the best way to know directly how we are meeting the changing needs of ourconstituents,” says Vice President Jean Lovati, who leads the District’sCustomer Service Program. Here are some highlights of what the District has learned thus far.
At a national level, the Treasury Relations and Support Office andthe Customer Relations and Support Office sent surveys to 800institutions throughout the nation during fourth quarter 2001.Institutions were randomly selected from those that hadcontacted the TT&L National Customer ServiceArea (NCSA) in St. Louis during 2001.Customers were asked to providefeedback on three key areas of TT&Lcustomer service:• The NCSA,• TT&L programs (TIP andPATAX), and• The National PATAX Voice Response Customer Service Area.Responding were 478 institutions, or 60 percent of thosesurveyed. More than 90 percent of respondents were either
with the level of service theyreceived at the NCSA. Customer satisfaction centered onthe NCSA staff members’ ability to provide accurateinformation, the responsibility they took for problemsolving and their professional courtesy.TT&L customers also were extremely satisfiedwith the accuracy and content of their PATAXstatements. Likewise, the PATAX VoiceResponse Customer Service Area alsoreceived high marks from customers, with96 percent of respondents being
Only a few institutions offered specific suggestions for improvement,and most comments were complimentary. Nevertheless, NCSA plans toexamine every suggestion and comment carefully, looking for ways toimprove the TT&L program and customer service.“We were pleased to find that, while there are some areas that needimprovement, most of the responses were very positive,” notes Lovati.“After only a little more than a year, the consolidation is paying off withbetter customer service and high levels of customer satisfaction.”
The District also conducted a survey of financial institutions in theDistrict—the first to be conducted since the 1999 National CustomerSatisfaction Survey. We sought to obtain feedback on the service per-formance of specific functional areas—Cash, Check, Customer Accountsand Electronic Access Support (EAS)—within each of the District’s fouroffices, the individual account executives across the District and the Bank’swritten communication pieces,
.More than 2,200 postage-paid survey cards were sent to 1,200institutions, and more than 370 survey cards, or 16 percent,were returned.All questions were answered on a five-point scale(1= poor, 2=fair, 3=good, 4=very good, 5=excellent).The ratings were as follows:• functional work areas throughout the District: between3.57 and 3.97,• written communications: 3.75, and• account executives: slightly over 4.0.“These ratings and commentsreally help us better under-stand what we do well andwhat we need to improve,”says Assistant Vice President Fran Sibley, “and we’re takingthis feedback seriously. Now wehave specific information—bydepartment and location—which will beused to guide our service improvementsthis year and next.”
Banking Supervision and Regulation
The Banking Supervision and Regulation Divisionidentified four areas as being the most important toour state member bankers:(1) minimizing burden, (2) consistency in judg-ments and interpretations, (3) professionalism, and(4) responsiveness. BS&R asked 64 institutionsto complete a survey focused on these issues, and morethan 80 percent responded.“We were very pleased with the response rate. Overall, the feedbackwe received was very positive—especially regarding professionalism,knowledge and helpfulness of the examiners,” states Vice President KimNelson. “We plan to assess the many comments and suggestions closely,and we will follow up with our state member banks later this year.”
This summer, the Public Affairs Department will be asking subscribersof the new Electronic Distribution service to tell us what they thinkabout the service. Look for the survey on the Bank’s public web site,www.stls.frb.org.
District’s Surveys Provide Important Feedback
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