CUs achieve higher internal service benchmark: Member Loyalty Group
CHICAGO (11/24/15)--Credit unions achieved improved internal service levels in a new benchmark study released Monday.
The overall internal Net Promoter Score (NPS) for participating credit unions increased to 70.5 from 67.2 in spring 2015, reported the Member Loyalty Group (MLG), the credit union service organization best known for its industry benchmark for external service and Voice of the Member program. Two-thirds of the credit unions improved their scores.
MLG's Internal Service Survey program was launched in late 2011 to help credit unions measure, manage and take action on employee feedback. Each participating institution uses the same methodology and asks consistent questions of employees to determine NPS and collect feedback at a departmental level.
“This internal service survey program allows participating credit unions to accurately gauge how well each department is serving other employees and make changes to strengthen the organization and ultimately improve the member experience,” said Michelle Bloedorn, MLG CEO.
The benchmark also ensures that participants understand their scores relative to other credit unions using the same methodology.
"Many credit unions require their departments to create action plans for improvement based on the feedback received and communicate those plans across the organization, which helps establish accountability," said Jake Foreman, MLG program director. "Some credit unions have even created service level agreements within each department. Additionally, many credit unions are setting goals around internal NPS and holding department managers accountable to these goals."