The Cornerstone Credit Union League is a not-for-profit credit union league that publicly represents nearly 600 credit unions across Texas, Oklahoma, and Arkansas. It communicates with and educates the general public on credit unions as a safe and secure financial institution, provides professional development to practitioners in the industry and advocates for the credit unions on a state and federal legislative and regulatory level. More than 8.4 million members in turn own these credit unions, with Cornerstone's service corporation providing industry assistance and tools to help spread their presence as full-service financial institutions.
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Financial Services / Brokerage and investments is 51.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If Cornerstone Credit Union League sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of Cornerstone Credit Union League with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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