Credit Union Journal reported in its 2/25 issue that a new credit union consumer survey firm, MyCUsurvey.com, just released findings of a 5,000 person survey that show members across the country still see their credit union as for older people. The survey found a strong connection between the age of members and customer satisfaction. Older members are much more attached to their credit union. The survey measured members under 21, then 22-30, 31-64 and 65 and older, with each older group expressing more satisfaction for their credit union. Satisfaction is also much higher among members who visit a branch on a regular basis. The survey showed a 15-point spread in satisfaction ratings between those who had been members for one year or less, and those who belonged to the credit union for 10 years or more.
Dr. Jack Bieda, founder of MyCUsurvey.com says that “The convenience of web and mobile banking and other trends are undermining credit union member satisfaction. It’s clear that credit unions need to find a way to attract younger members and get members to visit their branches for a more personalized banking experience in order to cement the member relationship.”
MyCUsurvey broke down findings into three classifications: national, regional, and by asset size. The national survey data will be updated every six months.
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