CHICAGO – Member Loyalty Group recently celebrated two milestones – the CUSO now serves more than 100 credit unions, and it has collected more than 3 million member surveys on behalf of those CUs.
The 100 credit unions are based across the country and total more than $1 billion in assets, the company said Wednesday.
Michelle Bloedorn, CEO of Member Loyalty Group, noted the CUSO was formed in 2008 by a handful of credit unions for the purpose of developing a common member loyalty benchmark for the credit union industry.
"We have learned so much about what drives member engagement and loyalty over these past eight years," she said in a statement. "It has been eye opening to capture, analyze and help credit unions act on the feedback provided by more than 3 million of their members.
"We serve as a partner to each of our 100-plus participating credit unions," Bloedorn continued. "I look forward to continuing this journey and helping more credit unions achieve their growth, service and financial goals through our member experience program."
According to Member Loyalty Group, in addition to accurately measuring a credit union's loyalty or Member Effort Score, the CUSO's member experience program allows credit unions to take action on member feedback so they can consistently create "exceptional" member experiences and drive long-term financial growth. The company said participants are able to measure their performance against peers with industry standard benchmarks for each member journey and learn best practices from top performers.
Member Loyalty Group has grown from serving its six founding credit unions in 2008 to recently topping 100 CUs. The CUSO said as more organizations focus on the member experience, it plans to continue expanding its world-class CX tools beyond surveys to meet the fast changing needs of credit unions.
"As a CUSO, our credit unions drive our future direction and work with us side-by-side to develop Member Experience programs uniquely structured to meet their needs," Bloedorn said. "You do not see that type of effective collaboration in any other business."
