CHICAGO – A half-dozen large credit unions have created a CUSO that will try to develop an industry-wide metric to gauge and measure credit union member loyalty, the group announced yesterday.
While most credit unions consider themselves already "member-centric," there are few industry-wide metrics for measuring member loyalty.
The CUSO, called Member Loyalty Group LLC, has hired Satmetrix, a Chicago-based metrics provider, to develop a member loyalty standard for credit unions. Satmetrix developed NetPromoter, an online tool that measures customer loyalty.
The Member Loyalty Group will use NetPromoter in conjunction with member data provided by credit unions to determine ways to improve member service in every area of the organization.
The six founding credit unions are Addison Avenue FCU, America First CU, Baxter CU, Boeing Employees CU, Educators CU and San Francisco Fire FCU.
