CENTERVILLE, OH (October 2, 2023) — The latest case study from Support EXP describes how two credit unions in the same Ohio community came together to provide a superior banking option to financial consumers in a competitive financial services environment. By adopting a strategic plan for providing an experience that reflects members’ feedback and expectations, the newly formed credit union was able to decisively bolster its member satisfaction and loyalty.
Placing the MyUSA CU merger within the context of the industry trend toward consolidation, the case study points out the risk to member satisfaction and loyalty that comes with disruptive change. Unexpected service disruptions have the potential to drive frustrated members from merging institutions to the waiting competition.
Fortunately, mergers done well provide opportunity for growth, for strengthening of relationships, and for renewal of organizational purpose. In the case of MyUSA CU, the strategic plan governing the merger followed the theme of “Better Together.” The vision of MyUSA CU’s leadership for optimizing the value of the credit union partnership emphasized providing consistently world-class member service.
As a longtime, hometown partner of both merging credit unions, Support EXP was tasked with helping MyUSA CU reduce the disruption that accompanies most mergers. The CX measurement and management strategy MyUSA CU adopted was based on Support EXP’s 5-Step Model for CX Success: Diagnose, Prioritize, Fix, Accelerate, Differentiate. This strategy was executed in a series of phases characterized by
heavy CX diagnostics and varying degrees of agile, targeted action to build member relationships and improve process efficiencies.
As part of ongoing Data Translation, one of the Managed Services offered by Support EXP, Support EXP analysts constructed an “Event Path” showing trends in MyUSA CU’s CX metrics, plotted along a timeline of events with potential impact on its members’ relationship with and perception of the credit union. The Event Path tracked MyUSA CU’s resilience in boosting its NPS® from a post-merger low of 15.70 to a sustained NPS in the 55-65 range.
As shown in the case of MyUSA CU, a sound strategy for collecting member feedback at all crucial touchpoints and phases of a merger provides an essential picture of member expectations throughout the process. By better understanding their members, credit unions can make the merger experience easier and more predictable, building the trust that keeps members satisfied and loyal.
Jim Miles, CEO of MyUSA Credit Union, recognizes the importance of strong member experience:
“Member service is a key pillar in all that we do as a credit union. We like to say, ‘It’s about delivering the MyUSA Experience.’ For MyUSA Credit Union to achieve sustained success in communities once served by MidUSA CU and Heartland FCU, we acknowledge the need to ‘double down’ on the areas that ensure we meet our members’ expectations with expert guidance and financial tools that make a difference in our members’ lives. This is truly a combination where ‘one plus one equals the strength of three’ – and our members and communities are the beneficiaries. Every member, every experience, every time.”
To read the entire case study, please visit:
https://supportexp.com/cx-case-studies/myusa-case-study-neighborhood-cus-become-better-together/
For more information about Support EXP’s CX Data Translation services, please visit: https://supportexp.com/solutions/managed-services/data-translation/
For 20+ years, Support EXP has researched and innovated to become the premier provider of member feedback solutions, actionable analytics, and expert guidance for the credit union industry. We specialize in helping credit unions deliver a differentiating member experience (MX) by optimizing performance with data-driven MX and EX intel. Through powerful and profoundly translated member and employee analytics, we guide credit unions to predictable outcomes.
Dennis Gilbert
800.444.5465 x152| dgilbert@supportexp.com
www.supportexp.com
