Today’s financial services industry is an ever changing landscape of innovation and competition, leaving credit unions to ask: Should we offer new services? How do we compare to other credit unions? Do our members want more products? Are we meeting their needs?
Despite lacking the insights to make strategic decisions, credit unions are feeling the pressure to keep up with competition, changing member expectations and technological advances.
“There are a lot of outside forces in the credit union market,” says Jon Haller, CUNA’s director of corporate and market research director. “In order to stay ahead of the curve, your credit union needs valuable member feedback to guide your marketing and strategic planning efforts. Conducting a member survey can provide the insights you need to better serve your members.”
Beginning a survey can be a daunting task for many credit unions. It’s a heavy, time-consuming job but with the right guidance and resources, the results can be invaluable. A member survey allows you to cover and compare topics like your credit union’s image, market shares, member loyalty and the extent to which members borrow and save elsewhere.
Ease the burden of conducting a survey and discover your credit union’s position in the marketplace with CUNA Market Research. Using member survey results in comparison to a national database, CUNA’s research team sheds light on how members’ attitudes, behaviors and needs impact their financial well-being.
You’ll put your credit union in a position to realize tremendous cost savings, improved marketing efficiency, increased service usage and an improved “bottom line” – all backed with data your executive team won’t be able to ignore.
By looking at performance in different areas, including satisfaction, loyalty and market share, in comparison to other financial institutions, credit unions figure out how they actually stack up against the competition. Often times, the results resonate industry wide.
Find out more and view a complete list of available surveys at cuna.org/marketresearch.