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.
2018 Study by Mastercard Advisors
diverse respondents participated
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.
Becoming a customer for the first time
Personal loan application
Credit card application
Suspicious or fraudulent activities on an account
Tech problem with online banking
Credit or debit card declined at point of purchase
Financial planning/goal setting
Start an investment account
Request companion card
Here's a partial look at what the
“Member Financial Journeys” study found.
Personal loan applications,
opening investment accounts,
credit card applications,
and fraud assistance
Journeys that require progress updates, explanations, and additional direction, such as mortgage applications, fee disputes, card declines, and service complaints
STRONG STARTS... WEAK FINISHES...
HIGHEST-RATED credit union performance at beginning of member journey:
Highest-performing communication channels: Digital notification, branch service
LOWEST-RATED credit union performance at end of member journey:
Least-performing communication channels: Text, phone, email
Percent of members who tell other
people about service complaints,
fraud, and difficult experiences
6% of credit union members
told this number of people
about their service complaint
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.
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.
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.