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Transition
2007 Member Survey Enhancements

Reduced Sampling Option:
To reduce the overall cost of RFG’s surveys without sacrificing the reliability of the survey findings, we have refined our sampling method and can now offer your credit union a sampling alternative that could result in a reduced mail sample of approximately 3,000 member households—a potential cost-savings of $3,000 in total printing and mailing expenses.

RFG Loyalty Index:
Simply meeting members' expectations is not good enough. Members can be “highly-satisfied” with the credit union’s service, but hold a majority of their accounts with a competitor and defect completely when finding a slightly better rate.

The RFG Loyalty Index is based upon four key measures:

  1. Member willingness to give your credit union all future loan business;
  2. Member willingness to give your credit union all future deposit business;
  3. Member satisfaction with your credit union, and
  4. Likelihood to recommend a family member or friend to your credit union.

Member Loyalty Drives Financial Performance! Current research shows a correlation between the RFG Performance Index developed for the CEO Strategies Group and the RFG Loyalty Index analyzed through the CEO Member Survey and Service Quality Survey programs. Credit unions with a higher Loyalty Index also have a higher Performance Index. Find out how your credit union can improve loyalty and overall financial performance by participating in a 2007 CEO Member Survey cycle.

Evaluate Member Advocacy:
Member advocacy is the latest performance metric being employed across industries. In 2007, RFG will evaluate your members’ likelihood to advocate for your credit union by referring your services to their friends and family through the CEO Member Survey and Service Quality Survey programs. Through preliminary research, RFG found “willingness to recommend” to be the highest predictor of strong financial performance.
 

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Raddon Financial Group is a business unit of Open Solutions Inc.