Magyar Bancorp, Inc. Net Promoter Score 2021 Benchmarks

Estimated Net Promoter Score is

-6

Magyar Bank is a bank based in New Brunswick, New Jersey with branches in Central Jersey.

The bank was founded in 1922 as the Magyar Building and Loan Association by a group of Hungarian immigrants and businessmen in New Brunswick, many of whom had settled in the city's Fifth Ward. . In 1954, its charter was amended and the name changed to Magyar Savings & Loan Association. In 1989 it became Magyar Savings Bank, SLA and in 2005 Magyar Bank.

In January 2006 Magyar Bancorp, parent company of Magyar Bank, began trading on the NASDAQ stock market under the symbol MGYR. The MagyarBank Charitable Foundation, 501 organization, was established in June 2006.

Quick facts about Magyar Bancorp, Inc.

Headquarters

New Brunswick, New Jersey, United States

Key people

John Fitzgerald (President-CEO)

Website

https://www.magbank.com

Products

Financial services

Parent

Magyar Bancorp

What is Net Promoter Score?

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.

Learn more about NPS

Is Magyar Bancorp, Inc.'s estimated NPS of -6 considered to be good?

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 Finance / Savings Institutions is 0.

Browse NPS benchmarks

How to understand the NPS benchmarks

The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.

Consider an example: If Magyar Bancorp, Inc. 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 Magyar Bancorp, Inc. 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.

What is Customer.guru? Why is useful?

After successfully using Net Promoter Score for our own e-commerce projects,
 we have decided to let anyone benefit from what we've learned.



We have founded Customer.guru in 2016 to help e-shops, SaaS services and startups better understand their customers, improve their services and increase their revenues.

Customer.guru is an easy-to-setup tool for tracking segmented customer satisfaction using Net Promoter Score.

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Other companies with Net Promoter Score similar to Magyar Bancorp, Inc.

Company Industry Score
NatWest Business Banking Financial Services / Banking -6
Virgin Media Telecommunications / Cable/TV service -6
Time Warner Cable Telecommunications / Cable/TV service -5
Sky Telecommunications / Cable/TV service -5
Time Warner Telecommunications / Cable/TV service -5
BBC Media / Cable/TV service -5
US Airways Travel and Hospitality / Airlines -8
McDonald's Consumer Brands / Fast Food -8
Tesco Consumer Brands / Grocery -8
Ocado Consumer Brands / Grocery -4

We have estimated the Net Promoter Score of Magyar Bancorp, Inc. based on the publicly available information
including the sentiment of the company-related tweets, 3rd party reviews, and Alexa ratings.

Do you think this information is incorrect? Report incorrect information. Do you have more accurate data? Submit NPS score.