Member Experience Programs Pay Off in ROA, Membership Growth and More
After collecting over 5 million member surveys in the past 11 years for more than 125 credit unions, Member Loyalty Group has gained key insights about the link between Member Experience programs based on loyalty scores and financial performance.
The latest data shows a clear correlation between loyalty scores and higher ROA as you compare MLG participants (all committed to improving the member experience) with the CU industry overall. High performers among those with a loyalty program also yield a 36% higher ROA than low performers.
A key component of a Voice of the Member program is recommendation from members. This positive word of mouth is powerful, as top performing credit unions’ membership growth rates are more than double the industry average.
Read further about how higher loyalty scores are also linked to Net Income, loan charge offs, and more by downloading a complimentary copy of our new report or by contacting us at [email protected].