Executive Summary
Credit unions get a “grade” from their examiner, usually each year, based on the CAMEL rating system. This system measures only safety and soundness, and credit unions have many goals in addition to being safe and sound, such as high quality service to members. Many credit unions conduct member satisfaction surveys, but without a standard against which to compare the results these surveys can be difficult to interpret.
What is the research about?
This second edition of an earlier Filene study provides member satisfaction scores on a number of questions based on a national random sample of members. The survey was conducted in 2001, and discusses changes in results from 1997 to 2001. By including these questions on their own member surveys, credit unions can benchmark their own results against national member satisfaction scores. The result is a more objective grade of member satisfaction.
What are the credit union implications?
This special report provides true national norms of credit union performance with regard to member satisfaction. Results are based on a national survey of randomly selected credit union members, measuring their level of satisfaction with many aspects of credit union service. Any credit union can now survey its members, using one or more of these normed questions, and make a direct comparison of its performance with the performance of credit unions in general. In this way, any credit union can determine its grade relative to other credit unions on member satisfaction metrics