Member Loyalty Group, the credit union service organization (CUSO) founded in 2008 to create an industry benchmark for external service, reached a new milestone of 10 million members.
"Reaching 10 million members was one of the goals set by the CUSO's founding credit unions,” said Darren Hermann, CEO of San Francisco Fire CU and Member Loyalty Group board chair. "Collecting feedback from this number of members represents a tremendous opportunity for the industry to continue to improve the member experience collaboratively."
The nearly 90 participating credit unions use a consistent methodology and the CUSO has collected more than 2.1 million member surveys to date. "We work very closely with leading credit unions on a daily basis to help them design, implement and manage effective member feedback programs," said Michelle Bloedorn, Member Loyalty Group CEO.
Member Loyalty Group works with Satmetrix to provide credit unions tools for managing Net Promoter programs to collect and act on member feedback that increases loyalty, growth and retention. A quarterly benchmark, specific to the credit union industry, is shared with all participants to facilitate collaboration and highlight best practices.