In a recent member survey conducted by CUNA Research, State Employees’ Credit Union received high marks, and ranked exceptionally well in member satisfaction, service, and loyalty. 2012 Survey results showed 98% of SECU member respondents were satisfied with their credit union, of which 90% marked “very satisfied.” More notably, however, was the 60% of SECU members who indicated “high loyalty” to their cooperative, which is above the previous year’s figure and nearly doubles the credit union peer average of 32%.
Loyalty rankings evaluate three criteria – if SECU is considered the member’s primary financial institution, if the member “definitely would” recommend SECU to others and if the member “definitely would” contact SECU for future services. If all three criteria are met, the member is deemed “highly loyal.” Of SECU members polled, 75% consider the Credit Union to be their primary financial institution (PFI), where they conduct the majority of their financial business. This PFI figure stands well above the 61% norm established by other peer credit unions.
The survey’s positive results signify that members appreciate SECU’s ongoing efforts to “Do the Right Thing” for its membership, serving as their trusted provider of financial services. The Credit Union has been aggressive over the years in implementing and modifying programs to benefit members struggling in a still weak economy. One such example is State Employees’ Credit Union’s Mortgage Assistance Program, which has helped over 8,000 families since 2009. SECU also continues to add more non-traditional offerings such as the Estate Planning Essentials program and Tax Preparation Services to meet other member-requested needs.
SECU Board of Directors Chairman McKinley Wooten comments, “State Employees’ Credit Union was formed 75 years ago as a low-cost financial services alternative for State employees who were being taken advantage of in the marketplace. Today, the organization continues to operate with the same ‘People Helping People’ philosophy on which it was founded, always striving to do what is in the best interest of SECU’s member-owners. Positive feedback received from the 2012 Survey reinforces that our focus is in the right place and where it should remain going forward --- on the member!”