The power of personal relationships

The increased ability to leverage data makes tools such as Net Promoter® Score (NPS) more valuable than ever for credit unions seeking to deepen member relationships.

For instance, Suncoast Credit Union in Tampa, Fla., uses NPS not just as a measuring stick, but also as a stepping stone to loan and product growth, as well as improved operational efficiency.

The $7.6 billion asset credit union has generated $3 million in product sales since it implemented NPS in May 2015. And its three-employee member relationship team doesn’t get paid through sales incentives, according to Darlene Johnson, Suncoast’s senior vice president of member experience.

“It’s really about member relationship-building,” she says. “If you deepen relationships, sales happen organically.”

NPS gauges the loyalty of an organization’s relationships with its customers, or in a credit union’s case, its members.

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