By Rex Richardson, Quavo Fraud & Disputes/CUInsight
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As the holiday decorations come down and statements post, many of your members are finally getting a clear look at holiday season costs.
They are scrolling back through weeks of transactions, checking for refunds, and reconciling payments. That is often when they spot something that does not look right: an unfamiliar merchant, a duplicate charge, a return that never hit, or a card purchase they are sure they did not make.
This makes January a critical moment in the member relationship. Your team is catching its breath after the rush, budgets are resetting, and back‑office workloads are heavy. At the same time, as dispute volumes spike, member satisfaction can quickly drop. How you handle those first‑of‑the‑year disputes can have an outsized impact on member trust, card usage, and long‑term loyalty.
January is when members reassess trust
The start of the year is often when people make new financial decisions, including what card they use and which one earns the top spot in their physical and digital wallet. Industry analysts estimate that average annual member attrition for credit unions sits in the low double digits, and research shows credit union members are more likely to switch institutions than their bank‑customer counterparts.
These moments of risk are also an opportunity. When members reach out because something has gone wrong, they are not just asking you to fix a transaction; they are asking if you are on their side. If the answer feels slow, opaque, or bureaucratic, the goodwill you built through the holiday season can evaporate quickly. A clunky dispute experience—long hold times, repetitive questions, confusing timelines—can become the final push that sends a member to a competitor promising faster, more digital support.
On the other hand, a clear, empathetic, efficient resolution process can turn a stressful experience into proof that their credit union truly acts as an advocate.
What the data shows about disputes and loyalty
New research from Cornerstone Advisors highlights how tightly dispute resolution is linked to member engagement and growth. Members who experience effective dispute resolution do not just walk away satisfied; they deepen their relationship…