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Transition
2011 Member Survey Enhancements

Key Research Topics
In addition to the traditional survey objectives such as member loyalty, potential, service quality and share of wallet, RFG’s proven member survey programs will address emerging issues affecting credit unions and their members. In turn, we provide credit unions with timely research to help them effectively analyze and react to issues affecting their members and prospects.

Are your members emotionally connected to your credit union? 
Credit unions are realizing the benefits of devoted members that actively promote products and look to the credit union first for new financial services. Understanding your members’ level of engagement can help you implement the appropriate strategies and tactics to increase their affinity with your organization. It is the critical emotional component that strengthens the bond between your members and your credit union.

RFG will study your members’ emotional engagement to help you:

  • Gauge the levels of emotional engagement your members have with your credit union
  • Learn which of your members are not emotionally connected to your credit union
  • Develop tactics to improve your members level of engagement

Are you the choice of the next generation?
Gen Y is growing up and represents the largest segment of the population. At 35 percent of the U.S. population, they will continue to be increasingly important for your credit union’s growth and will be more financially influential than the Baby Boomers. Gen Y is entering into the financial mainstream as new buyers of financial products and services. What are you doing to reach this segment of more than 80 million new buyers?

Our research on your generational segments will show how Gen Y differs from its predecessors and what you need to do to appeal to this segment. Through our exploration, we will help you:

  • Learn the buying behavior of this up-and-coming segment
  • Evaluate your products and services to align them to meet the needs of Gen Y
  • Learn how Gen Y’s attitudes towards financial services differs from other generational segments

Why do your members have relationships with multiple institutions?
RFG’s national consumer research reports that 58% of credit union members do not consider their credit union as their primary financial institution. Why are such a high percentage of members using a competitor as their primary institution? Are your members using one or more of the Big Four banks in addition to your credit union?

Our research will investigate the mix of institution types that your members use and why they use them. Our findings will help you:

  • Determine what institution types are the main competitors within your market – a national bank, community bank or another credit union
  • Evaluate the products and services members are using with other institutions
  • Understand why you may lose members to the competition

How should your credit union use social media?
Social media, including blogs and social networking sites like Facebook and Twitter, can provide a relatively low-cost connection to your members. However, to get any real traction and to avoid potential pitfalls, you need to be willing to commit resources to it. We will survey your members to understand who among your base is using social networking sites and which sites they are using. Our research will help you:

  • Determine which member segments are currently using social networking as well as the potential of use for your member base
  • Find out if your members have ever used social networking sites to make financial decisions
  • Develop your social networking strategy
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