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TOM SAKASHSTAFF NEWSWRITER

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CUNA Council paper addresses what drives member loyalty
MADISON, Wis. (11/2/11)--The CUNA Marketing & Business Development Council's newest white paper,  "The Essential Drivers of Member Loyalty in Credit Unions: Adding Value to the Net Promoter Score," explores the service qualities credit union leaders should focus on to foster growth and create lasting organizational success, said the council.

The paper uses Net Promoter Score, a a loyalty metric and a discipline for using member/customer feedback to fuel profitable growth in a credit union's business.

Written by Neil Goldman the paper the uses the Net Promoter score to answer questions such as:

  • What leads to an exceptional member experience?
  • What leads to meaningful loyalty?
  • What are the universal factors that all credit unions share in driving member advocacy?
The paper investigates the qualities and factors that drive credit union member promotion and detraction, and explores whether age, income or gender make a difference.

Readers are introduced to the SERVQUAL model of customer satisfaction as a framework for understanding the drivers of Net Promoter Scores and how to use the model to create a member experience that inspires high loyalty.

SERVQUAL measures the gap between customer expectations and experience based on five factors:

  • Reliability;
  • Assurance;
  • Tangibles;
  • Empathy, and
  • Responsiveness.
The paper includes research tools for credit union marketers and leaders to incorporate into their planning.
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