Sound Credit Union’s Seamless Shift to 24/7 Digital Service

Founded in 1940 and headquartered in Tacoma, Washington, Sound Credit Union is one of the largest credit unions in the state, serving over 170,000 members with more than $3 billion in assets. With 26 full-service branches across the Puget Sound region, Sound CU offers a full range of financial services, including deposit accounts, loans, credit cards, insurance, investments, and financial education. To learn more, visit their website at soundcu.com.

Background

Sound Credit Union (Sound CU) is committed to providing exceptional service to its members across Washington State. As part of their mission, the Digital Member Services team plays a pivotal role in ensuring members can get the answers they need quickly, accurately, and in the channel they prefer.

Before working with Posh, the team faced challenges with inconsistent information, high chat abandonment rates, and limited staffing to support new digital channels like mobile chat. These issues were not only impacting efficiency but also putting pressure on member satisfaction scores.

The Challenge

Prior to Posh, members sometimes received different answers depending on which team member they interacted with. Chat abandonment was higher than desired, and while the credit union wanted to launch mobile chat, staffing limitations made it impossible to add the channel without impacting service levels.

The team’s goals were clear:

• Deliver consistent, accurate information to members.
• Reduce abandonment and wait times.
• Provide a 24/7 self-service option to meet members where they are.
• Create an omnichannel experience spanning website, online banking, and mobile.

The Solution

After a thorough vendor evaluation, Sound CU chose Posh for its unified platform, proven track record with financial institutions, and ability to support future expansion into Voice AI.

“We wanted to expand under one platform, and Posh made it easier from the start. You provided hundreds of topics we just had to customize, it was a much lower lift compared to others we looked at.” — Rebecca Fitzer, Digital Member Services Manager

Posh provided hundreds of prebuilt topics that Sound CU could customize, reducing the workload on their internal team. While the initial setup required some collaboration to fine-tune intents, maintenance now takes less than two hours per month.

In October 2024, Sound CU launched Posh across their website, online banking, and mobile banking, coinciding with the rollout of chat in mobile banking. This simultaneous rollout, though daunting at first, proved to be a turning point. Without Posh’s automation, the team estimates they would have needed an additional 3.5 full-time employees per month to support mobile chat alone.

Implementation Experience

Working with Posh’s customer success team made the process seamless. “Our Client Success Managers are amazing partners, so personable and responsive,” Rebecca shared. “The only real lift was ensuring our topics were correct and comprehensive. Beyond that, the implementation of the product was spectacular.”

The Results

Since implementing Posh, Sound CU has seen significant operational and member experience improvements:

• Containment Rate: 77% containment rate meaning more members get answers without needing a live agent.
• Wait Time: Reduced from 1.5 minutes to just 19 seconds.
• Abandonment Rate: Dropped from 4.8% to 1.3%.
• Staff Savings: Avoided 3.5 FTE/month, saving roughly $15K+ per month.
• Member Satisfaction: Increased from an average of 4.0 to 4.4 out of 5.

Team Impact

With fewer simple inquiries to handle, the Digital Member Services team can focus on complex conversations and provide full-service support.

“With fewer chats coming in, the team isn’t stressed, they can do the work appropriately. We’ve seen a huge quality improvement in how we serve both our members and our internal teams.” — Rebecca Fitzer

This shift has improved job satisfaction, created a less stressful environment, and allowed the team to dedicate more time to supporting other departments.

Member Impact

Members have embraced the self-service option, particularly through mobile and online banking. Since launch, Rebecca has received only one escalation related to the chatbot. The always-on availability aligns perfectly with the preferences of younger generations, who often prefer not to interact with a live representative for simple questions.

Looking Ahead

Sound CU is excited to explore new capabilities with Posh, including Voice AI for the contact center and generative AI to streamline knowledge management, especially useful following their recent merger. They are also interested in enabling appointment scheduling through the bot and evaluating Posh’s Training Simulator.

Advice to Other Financial Institutions

Rebecca’s recommendation is straightforward: “Definitely do it. It’s so worth it. People are looking for self-service options without having to work with an individual, give them that option. It saves money, improves member experience, and if they do want to talk to an agent, they still can.”

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