More "Best of the Best": Primary Financial Institution (PFI) Levels

By Jon Haller
Director of Market Research
CUNA & Affiliates

Last month’s issue highlighted the strongest loan-service market shares and satisfaction levels CUNA Research has recorded in its 100+ most recent member surveys. It was one of our most-read issues to date. (Thank you!)

So, being the astute (or lazy?, unimaginative?) researcher that I am, I’m thinkin’, "Hey, let’s do that again!"

Here it is — one more "best of the best" — the average and highest percentages of members choosing the credit union as their PFI, broken down by asset size, courtesy of CUNA Research’s Member Survey Benchmarking Database.

Where does your credit union fall relative to the standard of excellence established for your asset-size peers? What can you do to persuade those members currently relying on other providers to switch their PFI loyalty to you? What steps must you take to better ensure that your current PFI members don’t jump ship to one of your competitors?

Many consumers and members no longer hesitate to change primary providers if their needs aren’t being met to their satisfaction. Staying on top of the above and other related issues, by gathering member feedback, can help you "keep your finger on the pulse" of the membership. This, in turn, both allows you to build your PFI levels — if you can take advantage of emerging weaknesses in your competition — and puts you in a better position to protect against PFI "flight."

Other Issues of Research Review

Previous Issue:
The Best of the Best in Loan Market Shares and Overall Member Satisfaction