Help members soar, not simply survive
With a new partnership and approach to driving engagement, Affinity FCU is fostering a thriving membership.
Three years ago, Affinity Federal Credit Union($3.5B, Basking Ridge, NJ) was looking for a holistic way to grade member engagement. Traditional models — namely, the Net Promoter Score (NPS) metric — reflect a moment in time in the member experience, and Affinity wanted more regular, meaningful feedback.
In its search, the credit union learned about a member engagement score developed by Gallup, an analytics and advisory company. Gallup, unlike NPS, offers analysis on the moment of truth — which aims to understand the psychology behind a purchasing decision. In addition, Gallup has spent years researching personal well-being. Affinity CEO John Fenton saw how combining engagement and well-being scoring into a survey-based member feedback mechanism, all designed and administered with Gallup’s involvement, could provide a level of insight to which it had not previously had access. Plus, Affinity thinks there’s a connection between member engagement with the credit union and overall financial well-being, so better measuring the former to help improve the latter.
After a formal conversation with Gallup in early 2019, Fenton assigned its chief brand officer, Jacqui Kearns, to lead the partnership.
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