Payment Industry Insider

This series of posts will outline the sessions at the 2008 Partnership Symposium.

Session Speakers

Diana Dykstra, CEO, San Francisco Fire Credit Union

Michelle Bloedorn, Executive Director, Member Loyalty Group

Session Overview

Six credit unions, including San Francisco Fire CU, have come together to form the Member Loyalty Group CUSO. This CUSO has the goal of spreading the use of the Net Promoter Score among credit unions and making it affordable for institutions of all sizes. Hear about how San Francisco Fire CU has incorporated NPS and social media techniques to engage members and create true loyalty.

Session Notes

Below are some of my highlights from Michelle and Diana’s session.

Net Promoter Score takes the number of promoters of a company/brand and subtracing the number of detractors, resulting in a number. Measured over time, an NPS user can measure the different in scores.

SF Fire calls Net Promoter Score Member WOW.

“We pay dissatisified members $10, no questions asked.”

NPS has correlated against SF Fire’s growth in assets, members and loans.

The open-ended questions in the NPS survey give SF Fire insight into what their members want, whether it be new services or improvements on existing.

Member Loyalty Group was created to better serve CUs wanting to use NPS and disseminate member data.

Satmetrix, a co-developer of the original NPS model, partners with the CUSO.

Six credit unions banded together to create Member Loyalty Group:

• Addison Avenue CU
• America First CU
• Baxter CU
• BECU
• Educators CU
• San Francisco Fire CU