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Improve CU Reputation & Build Loyalty

Apr 07 2 comments, Posted by Guest Author Denise Wymore

Last year I agreed to take on Ron Shevlin live to debate the issue of Net Promoter Score. I am very passionate about this amazing metric because it provides actionable data (and reliable data) that will help you improve your credit union’s reputation and build loyalty. Remember loyalty?

This year, I’m excited to hear my friend Diana Dykstra, CEO of San Francisco Fire Credit Union and a self-proclaimed Net Promoter Score zealot, share her success with NPS at the FORUM Solutions Trabian Partnership Symposium.

Diana HATES satisfaction surveys. Why? Because when she took over as CEO, her credit union had a 98% satisfaction rate. But she knew, just from interacting with employees and members, that they were not “delighted.”

She set out to delight her employees and consequently her members by listening, learning, and innovating – using the ultimate question.

“How likely are you to recommend us (credit union) to your friends, family and co-workers?” Members rank on a scale of 0 to 10.

9-10 = promoters
7-8 = passives
0-6 = detractors
% of promoters – % of detractors = NPS

When she started her score was 52%. Today it is 74%. Her loan-to-share was 44%. Today it’s 85%

And assets grew from $371 million to $465 million serving 21,600 members. Loyal members.

Speaking of members, they grew 10% in membership last year and decreased closures by 19%.

In San Francisco, if you search for credit unions on Yelp.com, you will find San Francisco Fire Credit Union’s loyal members.

They are the highest rated financial institution in one of the noisiest markets in the US. This is not a ranking you can buy, you have to earn it. Every single day.

Can’t wait to hear Ron Shevlin debate those results …. there’s a lot more, but I’ll wait for October at the Partnership Symposium. Front row center.

Denise Wymore is a speaker, writer, blogger, consultant, overall credit union advocate. She spoke at last year’s Partnership Symposium and will be an active attendee at this year’s event.

2 Responses to “Improve CU Reputation & Build Loyalty”

Bruce Geiger on April 7th, 2008 at 05:55 PM

In your role as a ‘net promoter of Net Promoter Score, Denise, you are both passionate and tenacious. I’m impressed. On a scale of 0-10, the likelihood of me recommending your work to a friend or colleague is a 10.

Denise Wymore on April 8th, 2008 at 12:19 PM

Bruce,

Thank you for that. Tenacious is one of my favorite words so I’m honored that you would use it to describe me.

I look forward to seeing you at FORUM!

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