Q1 2016 Credit Union Benchmark Released
As of 1st quarter 2016 data, the Credit Union Industry Average Relationship NPS© improved slightly to 60.85 compared with banks’ overall average of 35, according to the 2015 Satmetrix report.
In addition to the overall relationship average remaining strong, one of the specific channel scores, New Member, has been steadily improving over the last several quarters. In the past, the New Member experience was one of the lowest averages in the benchmark but as you can see in the chart below, that is no longer the case. The recent improvement and narrowing of the New Member range coincides with a number of participating credit unions focusing on enhancing the experience of new members.
Member Loyalty Group, a leading CUSO formed to help credit unions implement and perfect organization-wide Voice of the Member programs, has collected over 2.1 million member surveys on behalf of its participating credit unions and is the exclusive provider of the Satmetrix® Net Promoter® Software for the credit union industry.
“As credit unions continue to focus on the member experience and share best practices to improve, we expect to see narrower ranges in other channels beyond the new member experience,” said Rebecca Secor, CXO of Member Loyalty Group. “Identifying opportunities for improvement throughout the member journey is one of the ways we help participants act on member feedback.”
For more information about Member Loyalty Group’s Net Promoter program and credit union industry specific benchmark overview, credit unions can request their own copy of the latest benchmark overview or contact [email protected].