Credit Union New Member Experience Benchmark Reaches an All-Time High

Member Loyalty Group’s credit union industry New Member Experience benchmark reached a new high in Q1 2019. According to the quarterly report, the average New Member Experience NPS® is now 74.09.

So what’s fueling the upward trend in new member experience? We posed this question to Elevations Credit Union of Boulder, CO as they’ve seen notable growth in this area over recent months. According to Chris LaVelle, VP of Marketing, it’s been a shift in strategy. When opening new accounts, there is less focus on cross-selling products and more emphasis on foundational elements – checking, online banking enrollment and direct deposit.

“We have come to the realization that account access is far more important to building a relationship.” notes LaVelle. Their members clearly agree, as Elevations’ New Member Experience score has increased 10 points in the last quarter alone.

To request a complimentary copy of the full Q1 2019 benchmark overview report, which contains benchmarks for other areas of business including digital banking, call center and more, please contact us at [email protected].

 

About Member Loyalty Group

Member Loyalty Group is a CUSO formed by leading credit unions to develop a common member loyalty benchmark for the credit union industry. We provide credit unions with the most effective tools for managing a Member Experience program. With our in-depth knowledge of the industry, we go beyond NPS to offer expert advice based on experience and best practices. Ask us about member effort scoring, comment coding benchmarks, goal setting and more.

Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.