Altra Federal Credit Union in Onalaska, Wis., and Listerhill Credit Union in Sheffield, Ala., have signed on to use a metrics program to help understand how well they serve their members.
Both credit unions have selected Member Loyalty Group's Net Promoter program, the Chicago-based credit union service organization said in a press release Thursday.
The program allows financial institutions to collect member feedback and use quarterly benchmark reports to help increase retention and growth, as well as to measure performance compared with competitors. Financial institutions obtain their Net Promoter Score through customer-survey questions based on a rating scale.
"Our CUSO was founded to help credit unions develop organization-wide programs to capture, analyze and act on member feedback," Michelle Bloedorn, chief executive of Member Loyalty Group, said in the release. "We serve as partners with each of our participating credit unions, and I look forward to helping our newest credit unions achieve their growth, service and financial goals."
Member Loyalty Group serves nearly 100 credit unions, most of which have more than $1 billion in assets. Altra FCU has $1.2 billion in assets; Listerhill CU is a $705 million-asset institution.
