Member Loyalty Group

“Editor’s Insight” Perspective

mlgadmin — Fri, 18 May 2012 15:58:04 +0000

Member Loyalty Group was featured in “Editor’s Insight”, a customer loyalty portal, which put their 2012 NACUSO Collaboration & Innovation award in a broader perspective. Read the full story (including the Editor’s note) here.

Member Loyalty Group

mlgadmin — Wed, 16 May 2012 20:34:21 +0000

Member Loyalty Group Wins 2012 CUSO Collaboration & Innovation Award
Las Vegas, Nevada (May 11, 2012) Member Loyalty Group was honored this week with the 2012 CUSO Collaboration & Innovation Award, which was presented during NACUSO’s Annual Conference & Collaboration Connection. Formerly known as “CUSO of the Year”, the prestigious award was created to showcase organizations that bring value and leadership to the credit union industry through their collaboration and innovation.

“So many of the credit unions who have participated in Member Loyalty Group’s Net Promoter program have achieved amazing results,” said Michelle Bloedorn, CEO of Member Loyalty Group. “This award recognizes their achievements and underscores the importance of collaborating to propel the industry forward. Without forming a CUSO, our credit unions would not have had access to the type of world-class Net Promoter tools that are now readily available to them.”

“Member Loyalty Group has been such a valuable partner for my own credit union,” said Grace Semingsen, Board Chairman of Member Loyalty Group and Senior Vice President, Member Solutions for BECU. ”Michelle and her team of first-class professionals understand our needs in ways that other vendors cannot because of their own credit union backgrounds. Through Member Loyalty Group, the industry now has a standardized, trustworthy benchmark to help us improve our Net Promoter programs and create better member experiences everyday.”

Rob Markey Kicks-Off Loyalty Live 2012

mlgadmin — Tue, 14 Feb 2012 17:02:34 +0000

Co-Author of The Ultimate Question 2.0, Rob Markey, Kicks-Off 2012 Loyalty Live Conference

Rob Markey, head of Bain & Company’s Global Customer Strategy & Marketing Practice and best-selling author, was the keynote speaker at the 2nd annual Loyalty Live: The Credit Union Net Promoter® Conference which ran from April 30th to May 2nd at The Cosmopolitan in Las Vegas. The conference brought world-class loyalty experts together in one location to help credit unions get the most from their Net Promoter® programs.

Participants heard directly from world-class NPS thought leaders like Rob Markey of Bain & Company, who co-authored the best-selling business book, The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer-Driven World with Fred Reichheld, creator of the Net Promoter® system of management. Mr. Markey focused on how organizations can calculate the financial benefit of their Net Promoter ® Score and and adopt a Net Promoter® System that delivers extraordinary results, a key topic that many credit unions and other businesses have found challenging.

As a partner and director in Bain & Company’s New York office, Mr. Markey leads the NPS Loyalty Forum, a group of senior executives from loyalty-leading companies around the world on sharing best approaches for engaging customers and employees. He has published numerous articles on various aspects of customer experience and loyalty in publications such as the Harvard Business Review and has extensive experience with direct marketing, new customer acquisition and cost reduction for clients in the retail banking, credit card and insurance industries.

Other conference sessions included speakers from The Ritz-Carlton, discussing how they consistently deliver an exceptional experience, and 1-800-GOT-JUNK?, sharing how they developed the ultimate wow experience for their customers. Credit unions also had the opportunity to learn specific ideas from loyalty leaders in the industry and participate in networking opportunities. For more information about future Loyalty Live conferences, credit unions should contact info@memberloyaltygroup.com.

About Member Loyalty Group

Member Loyalty Group is a CUSO formed by leading credit unions in 2008 to develop a common member loyalty benchmark for the credit union industry. The CUSO has an exclusive relationship with Satmetrix, the Net Promoter® company, to provide credit unions with the most effective tools for managing a Net Promoter® program to collect and act on member feedback that increases loyalty, growth and retention. Member Loyalty Group serves over 30 credit unions, many of which are over $1 billion in assets, across the country. For more information visit www.memberloyaltygroup.com

About Net Promoter®

Net Promoter® is both a customer loyalty metric and a discipline for using customer feedback to fuel profitable growth in your business. Net Promoter® has been embraced by leading companies worldwide as the standard for measuring and improving customer loyalty. Financial Institutions obtain their Net Promoter Score® by asking customers a simple question on a 0 to 10 rating scale: “How likely is it that you would recommend the organization to a colleague, family member or friend?” Based on their responses, consumers can be categorized into one of three groups: Promoters (9-10 rating), Passives (7-8 rating), and Detractors (0-6 rating). The percentage of Detractors is then subtracted from the percentage of Promoters to obtain a Net Promoter Score®.

Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.

Credit Union Benchmarking Data Release

mlgadmin — Fri, 03 Feb 2012 02:06:38 +0000

Member Loyalty Group released their 2^nd quarter credit union Net Promoter® benchmark score today and reported that, on average, credit unions have a 58% Net Promoter® score compared to only 18% for banks.

Michelle Bloedorn, CEO of Member Loyalty Group said, “The findings really validate what we in the credit union industry have seen time and time again, that members are significantly more loyal to their credit unions than bank customers are to their banks – and that translates to considerable, tangible business benefits.”