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CUNA Council paper addresses what drives member loyalty

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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.

CSS expands risk-managementcompliance alliance with Abound Resources

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MADISON, Wis. (11/2/11)--CUNA Strategic Services Inc. (CSS) and Abound Resources have expanded their alliance to include risk management, compliance consulting and advisory services for credit unions. 

"We are living in an increasingly complex regulatory and economic environment," said Wes Millar, CSS senior vice president. "Abound Resources has demonstrated to us that they possess the experience, knowledge and resources to assist credit unions in these challenging times."

A key benefit of the CSS/Abound Resources risk management relationship to credit unions will be the presence of a single, trusted source of information and services for the broad spectrum of risk management issues.

In addition to a discount on consulting assistance to credit unions, Abound Resources offers free live webinars and information through a resource library on its website. 

"Our risk management and compliance services are now coupled with the existing CSS relationship around our vendor management processes," said Brad Smith, Abound Resources president/CEO. "Credit unions now have a comprehensive set of risk management services available to them ranging from enterprise risk management to specific compliance services."

Credit unions can learn more by attending a free webinar at 2 p.m. (CT) Nov. 17 on "Developing the Enterprise Risk Management Infrastructure for Credit Unions."

For more information, use the link.