Seeking: 2009 Satisfaction report - banks versus credit unions

Katie -

I’m having a little trouble understanding your question… because I’m not sure that customers/members use “metrics” to evaluate their satisfaction. (I don’t think that customers/members even “evaluate” their satisfaction).

I think satisfaction is a fuzzy and fleeting thing. A customer/member may say s/he is satisfied today, have a bad service experience tomorrow, and all of a sudden be dissatisfied. It depends a lot of factors.

However… with all that being said.. if you still want “metrics”, I would suggest you look at Forrester Research’s customer advocacy rankings. They ask consumers to what extent they believe that their banks/CUs “do what’s right for the customer and not just the bank/CU’s bottom line”.

Thanks, Ron.

Yes — fully agree that “credit union satisfaction” is fuzzy and subjective… not conducive with hard number “metrics”.

I’m mostly interested in the types of questions asked of credit union members and their self-select satisfaction rating… would like to compare similar to bank customers. Recent data/feedback even better!

Thanks for your recommendations.

Katie- We used the metric from Fred Reichold’s book, The Ultimate Question. This metric was used on almost all the top 10 banks, so you can find somewhere to benchmark yourself to. It’s pretty simple for customers to communicate back since it uses only two questions for customers. We sent it to over 80% of our households and got a response rate of almost 70%.

greg