BE MORE FOR YOUR MEMBERS.

Improve your member experiences with your FREE report,

“Member Financial Journeys: What Credit Unions Should Know”

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Created from over 1,200 survey respondents and 2,000 individual journeys, “Member Financial Journeys” offers detailed insight into credit union member experiences – how your members interact with you, what they value, what they don’t – so you can optimize for increased satisfaction, member retention and growth.

DISCOVER:

  • Which member journeys go well – and which do not
  • The impact of a positive member journey on member trust, loyalty and future intent to do business with you
  • The biggest causes of anxiety, and how to fix them
  • What you can do to most effectively improve satisfaction
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2018 Study by Mastercard Advisors

WE ASKED THE IMPORTANT QUESTIONS FOR YOU.
HERE'S WHO ANSWERED:

1,200+

diverse respondents participated

GAIN INSIGHT INTO 13 MEMBER JOURNEYS.

To give you the best information, Mastercard Advisors selected high-impact and high-frequency journeys and asked survey respondents to tell us which two they had experienced within the past 5 years.

Balance inquiry

61%

Becoming a customer for the first time

26%

Personal loan application

25%

Credit card application

23%

Suspicious or fraudulent activities on an account

21%

Tech problem with online banking

16%

Credit or debit card declined at point of purchase

14%

Fee dispute/waiver

13%

Mortgage application

11%

Financial planning/goal setting

11%

Start an investment account

9%

Service complaint

8%

Request companion card

7%

MAKE EVERY EXPERIENCE MORE SATISFYING.
START BY DOWNLOADING YOUR FREE REPORT NOW.

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Here's a partial look at what the
“Member Financial Journeys” study found.

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JOURNEYS EXECUTED WELL

Personal loan applications,
opening investment accounts,
credit card applications,
and fraud assistance

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JOURNEYS NOT EXECUTED WELL

Journeys that require progress updates, explanations, and additional direction, such as mortgage applications, fee disputes, card declines, and service complaints

For more detail and recommendations to promote or fix member journeys,

STRONG STARTS... WEAK FINISHES...

HIGHEST-RATED credit union performance at beginning of member journey:

  • Gathering and submitting information to get products like loans and credit cards
  • Early stages of becoming new member
  • Main stages of fraud, with the exception of progress updates

Highest-performing communication channels: Digital notification, branch service

LOWEST-RATED credit union performance at end of member journey:

  • Progress updates
  • Explanation of final answer
  • Notifying credit union of complaint
  • Direction on how to use services
  • Tech problems

Least-performing communication channels: Text, phone, email

...AND WHY IT MATTERS!

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Percent of members who tell other
people about service complaints,
fraud, and difficult experiences

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6% of credit union members
told this number of people
about their service complaint

NEGATIVE MEMBER EXPERIENCES IMPACT
YOUR BUSINESS, TODAY AND TOMORROW.

To learn more and discover solutions, download
the full “Member Financial Journeys” report

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CO-OP created this study in partnership with Mastercard Advisors. Over the years, CO-OP and
Mastercard Advisors have worked closely together to deliver value to our mutual customers.

Co-op Financial Services

We are a single, convenient source for solutions that drive growth, uniting world-class card payments with nationwide ATM, Digital and Shared Branch networks for convenience that rivals the biggest banks. All with relentless security that reduces fraud losses, and enhances member confidence. Created by credit unions, for the betterment of credit unions, CO-OP’s diverse solutions and strategic thought leadership provide the omnichannel experience necessary to make your cards top-of-wallet.

Mastercard Advisors

Our Customer Experience Management (CEM) practice helps businesses move from product-oriented to customer-oriented viewpoints and encompasses the entire organization and array of products and channels. Enterprise-level success leads to product-level success.

Mastercard Advisors helps organizations put the CEM puzzle pieces together to place customers at the core of their business – and drive economic value from those customers – through a proven approach that addresses people change, process alignment and the deployment of supporting technologies.

WE’RE READY TO HELP IMPROVE YOUR MEMBER JOURNEYS.
START BY DOWNLOADING YOUR FREE REPORT NOW.

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