PLANO, Texas—Catalyst Corporate FCU is reporting that for the second year in a row it has been given a score of 70% by its member credit unions as part of a Net Promoter Score survey.
The response came when those CUs were asked, “Would you recommend Catalyst Corporate?” Catalyst Corporate noted the 70% score is well above the generally accepted threshold for excellence, which is 50%.
“The Net Promoter Score is a much more rigorous measure than a simple member satisfaction rating,” said Kathy Garner, president/CEO of Catalyst. “We chose this methodology because we hold Catalyst Corporate, as a member-owned cooperative, to a higher standard of service.”
The NPS is calculated using a 0-10 scale by subtracting the percentage of detractors (responses rating their likelihood of recommending Catalyst Corporate between 0 and 6) from the percentage of promoters (responses providing a rating of 9 to10). The resulting score predicts the percentage of members who are so happy with the organization that they would proactively recommend it to others. Research suggests that an organization must have a good Net Promoter Score in order to grow, and that any positive number score is a good result, Catalyst Corporate noted.
“We are very pleased to have maintained high scores year-over-year since the survey began in 2012, but even with consistently excellent results, member approval is not something Catalyst Corporate would ever take for granted,” said Garner. “This annual check-in is an important part of our overall member engagement effort, which also involves in-person contact and a lot of two-way communication throughout the year.”
The survey, conducted by third-party researchers, took place over a three-week period in March and was sent to more than 3,000 credit union professionals at almost 1,200 capitalizing credit unions. The survey included questions about service offerings, member contact and trustworthiness, among other issues. Almost universally, responses were very good. A detailed report of the survey findings is available on the Catalyst Corporate website in the Communication/Member Feedback section.