Biz Services, Net Promoter Score Focus of Two New White Papers

May 5, 2008

FOR IMMEDIATE RELEASE
Contact: Katye Long
CUNA Communications; (608) 231-4038
klong@cuna.coop

MADISON, Wis. - Credit unions can learn how to use business services to build member relations and about Net Promoter Scores in two new white papers from the CUNA Operations, Sales, and Service (OpSS) Council.

“Taking Care of Business Members: The Case for Business Services as a Relationship-Building Strategy” illustrates how credit unions can grow with their business members and establish a two-way conduit to their personal and business accounts. Utilizing case studies, expert advice, and surveys, the white paper explains how credit unions are making the most of business services opportunities and examines the successful strategies of some credit unions that are just getting started in business services. It also details how credit unions are overcoming challenges involving staffing, training, technology, competitive positioning, and regulations.

Net Promoter Score (NPS) – used for analysis and benchmarking purposes to measure customer loyalty – is gaining popularity within certain industries. Given the importance of the consumer “experience” and the spread of customer opinions via word-of-mouth, blogs, and online social networking sites, NPS may prove a valuable replacement of outdated customer satisfaction surveys, which have become long and costly. The final white paper, entitled “Net Promoter Score in Action,” describes the score’s framework and how it is being used at three credit unions. The paper begins by explaining how the score works, what drives the numbers, and the rationale behind NPS. It then moves on to credit unions that are using NPS to improve member stickiness and referrals as well as their chances for survival in the competitive financial services market. It also provides examples of how some credit unions are tying improvements in NPS to overall employee benefits and using it as a jumping off point for other feedback innovations.

CUNA Council members are entitled to complimentary copies of these white papers; non-members may purchase the white papers for a price of $50 per copy. The papers are available online at www.cunacouncils.org; select the “Cross-Council White Papers” link located in the “Tools and Resources” drop-down menu and select the “OpSS” tab. From there, non-members should follow the non-member link to order.

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About CUNA OpSS Council

The CUNA Operations, Sales, and Service (OpSS) Council is a member-led partnership of operations, sales, and service professionals dedicated to providing education, leadership, networking support, professional development tools, and expertise to its members in order to shape the enhancement of the role and diversity of operations in the credit union industry. For more information, visit www.cunaopsscouncil.org.

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