How does myCUsurvey develop its Benchmark Normative Data?
For our member survey, myCUsurvey gathers normative data from an independent national sample of Credit Union members. The data is collected bi-annually, with proportionate dialing by population and by region.
We measure 6 key areas:
- Overall Satisfaction
- Willingness to recommend
- Interior Branch Satisfaction
- Exterior Branch Satisfaction
- Employee Satisfaction
- Service levels Satisfaction
I received a 3.5 on my overall satisfaction score, is that good or bad? How would I know?
The answer to these questions is what benchmarking is all about. It helps you to understand if you are doing better than, the same as, or worse than other Credit Unions. If my score is higher than the benchmark score then I'm doing well, if my score is the same I'm performing at the same level as all other credit unions, and if my score is worse, I need to make improvements.
How do Benchmarks help me analyze my performance?
The chart below shows you a sample of a comparative graph of the benchmark normative data for the "willingness to recommend" question for a sample credit union.
Conclusion of Data
National Score: Based on this national satisfaction score, it shows that your credit union has room for improvement. The credit union would want to look at the scores of the other key measures in the report to see what areas they need to focus on to bring up the overall score.
Regional Score: This shows you are rated the same as credit unions in your region. This indicates that you do not have a problem, but you do have an opportunity to improve and outperform your competition.
Same Size Score: You can see that your credit union is well out performing the credit unions of the same size as yours. This gives you an opportunity to review the entire report and encourage your team to continue the great work.
National Benchmarks: This measure compares your survey results to those of the entire sample of households in the United States.
Regional Benchmarks: This measure compares your survey results with the appropriate Credit Union Region. The regions have been classified by the NCUA into 5 zones. These are:
- Zone 1: CT, ME, MA, MI, NH, NY, RI, VT
- Zone 2: DE, DC, MD, NJ, PA, VA, WV
- Zone 3: AL, FL, GA, IN, KY, MS, NC, OH, PR, SC, TN
- Zone 4: AR, IL, IA, KS, LA, MN, MO, NE, ND, OK, SD, TX, WI
- Zone 5: AK, AZ, CA, CO, GU, HI, ID, MT, NV, NM, OR, UT, WA, WY
Like-Size Benchmarks: This measure compares your survey to Credit Unions of similar asset size. The breakout of asset size ranges are:
- $0 - $50.0 Million
- $50 – $100 Million
- $100 – $500 Million
- $500 – $750 Million
- $750 – $1.0 Billion
- $1.0 - $5.0 Billion
- +$5.0 Billion