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NAFCU rated tops in membership value
NAFCU was rated at the top in membership value and a market leader in a member survey conducted by an independent research firm, according to results released Tuesday.
The survey, conducted by McKinley Advisors from Sept. 23-Oct. 9, was sent to 16,512 credit union CEOs, chairs, staff, and volunteers. A total of 1,700 responses were received for a solid 10 percent response rate.
NAFCU members gave the association high marks across a number of different categories, with 98 percent of respondents indicating they are "satisfied" or "extremely satisfied" with the quality of NAFCU's member service. NAFCU scored especially high in staff's knowledge of products/services, resolution of issues, timeliness of response, access/friendliness of staff and overall quality of member service.
"The findings of the survey confirm that our members value NAFCU across the board," said Ed Templeton, NAFCU's chair and president and CEO of SRP Federal Credit Union.
In benchmarking, NAFCU garnered a 46 percent Net Promoter Score, which indicates the likelihood that members would recommend NAFCU to others. NAFCU ranked three times higher than the average for other trade associations in this area. In addition, NAFCU members ranked the association's value-to-cost ratio at 49 percent; that compares with an average 31 percent for other trade associations.
Respondents gave NAFCU very high marks in rating its key areas:
- Quality of Member Service: 98 percent indicated completely or somewhat satisfied
- Friendliness of NAFCU Staff: 97 percent indicated completely or somewhat satisfied
- Timeliness of Response: 96 percent indicated completely or somewhat satisfied
- Successful Resolution of Issues: 95 percent indicated completely or somewhat satisfied
- Accessibility of NAFCU Staff: 95 percent indicated completely or somewhat satisfied
More than 90 percent of respondents reported that the value their credit union receives from NAFCU is greater than or equal to the cost of membership.
The study also found that perceptions of NAFCU are positive. Strengths include being competent and credible, a strong advocate for regulatory and legislative issues, and providing the latest information.
Karli Susi, managing consultant, McKinley Advisors, said that "NAFCU members ranked the association a market leader" and that "NAFCU members feel their investment in membership is yielding an excellent return on their investment."
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