EMERYVILLE, CA/March 14, 2011 – A nationwide survey of credit union members finds a direct correlation between the age of credit union members and customer satisfaction.  According to MyCUsurvey.com, credit union members over age 65 give 30% higher satisfaction ratings than members under age 30.

The survey also found a strong correlation between overall member satisfaction and the frequency of visits to the local branch.  Members who visit their branch at least once a week demonstrated 10 points higher satisfaction than members who visit a branch less frequently, and 14 points higher than members who never visit their local branch.

Another survey finding also revealed that newer members are not nearly as satisfied with their credit union compared to members who have been customers for some time.  The survey showed a 15-point spread in satisfaction ratings between those who had been members for one year or less, and those who belonged to the credit union for 10 years or more.

Key Findings

Member ratings of overall satisfaction tends to be higher:

• As the member ages

• If the member visits the branch

• As the term of membership increases.
  

MyCUsurvey.com produced this national survey to establish the company as a source for benchmark local, regional and national membership satisfaction data.  The survey of 5,000 credit union members across the country was conducted in late fall 2010.

"In creating our benchmark for MyCUsurvey, we have uncovered some key findings that are critical indicators for the credit union industry,” said Dr. Jack Bieda, founder of MyCUsurvey.com. “The convenience of web and mobile banking and other trends are undermining credit union member satisfaction. It’s clear that credit unions need to find a way to attract younger members and get members to visit their branches for a more personalized banking experience in order to cement the member relationship.”

PinPoint Research launched MyCUsurvey.com to offer credit unions a cost-effective, turnkey approach to customer satisfaction surveys.  

For more information about the survey, visit www.mycusurvey.com and www.pinpointresearch.com.