Jan 01 1998

Member Satisfaction Levels: National Norms for Comparing Local Survey Results

Report  
Number  
34

Results from Filene's second study on member satisfactions scores. 

Harold O. Fried
Union College
Robert F. Hoel
Filene Research Institute
William A. Kelly, Jr.
University of Wisconsin-Madison
Report Number 34

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. This second addition of an earlier Filene study provides member satisfaction scores on a number of questions based on a national random sample of members. 

What is this research about?

This report presents the results of a national survey that measured credit union members’ level of satisfaction with different aspects of their credit unions’ services. The report provides national norms on member satisfaction that allow an individual credit union to survey its members and make a direct comparison of its performance with the performance of credit unions in general.

What are the credit union implications?

This is the second edition of a popular Filene study, designed to allow credit unions to compare their local member satisfaction study results with the results of a random sample of members throughout the country. 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.