Studies show that there is very little correlation between members' reported levels of service satisfaction and their loyalty to the credit union. According to national surveys, more than 75 percent of credit union members say they are "satisfied" or "very satisfied" with their credit union. Yet, 40 percent of credit union members have a loan with a credit union competitor. On average, half of all credit union members have their checking account at a bank. Credit unions have only half of their members' deposit dollars. The fact is that your credit union's "satisfied" members are doing less than 50 percent of their business with you.

Credit union executives and strategic planners need more than simple measures of member satisfaction in order to improve sales and service levels. Moreover, frontline coaches and trainers need actionable, descriptive information to use in developing employee skill. That's why many credit unions are using mystery shopping. Only the in-depth insights provided by trained shoppers can give your credit union's leadership team the information it needs to create a valuable, defection-proof retail experience for members.

MemberShoppers is unlike other mystery shopping systems. Tailored specifically for credit unions, our system allows credit union executives to evaluate the member experience their employees are providing based on the precise factors that lead to member account purchase and retention. In fact, we surpass our competitors by combining 7 essential features that are critical to a successful credit union mystery shopping program:

1. Industry Specific


Because credit unions are our only clients, we have a clear understanding of the sales and service expectations of credit union members. We combine expertise in the mystery shopping process with an extensive background in credit union sales and service culture development. Unlike our competitors, we measure sales and service factors that are unique to the credit union industry. We know which factors contribute to increased member purchasing and repurchasing.

We also understand the limitations of mystery shopping research in a member-owned financial cooperative. Because only members can open accounts at the credit union, and because credit unions have a restricted field of membership, we train your own members to look for specific service and selling behaviors when they do their business with the credit union. This eliminates shopper exposure and increases the validity of your results. Or, if you prefer, we also have a pool of trained professional shoppers that you can use instead of your current members.


2. More Shops for Your Investment


MemberShoppers provides you with double the shops of other leading mystery shopping services at the same cost. The more shops you get, the more precisely you can analyze trends and the more effectively you can improve employee performance. With more shops you can reward great performance more often and identify training needs more quickly. Don't settle for getting a quarterly snapshot of your credit union's performance. The more shops you get, the better your return on your investment.


3. Shopper Recruitment


With many shopping services, you have little control over the demographics of the shoppers and this significantly decreases the validity of your results.

MemberShoppers will recruit members to shop your credit union. We'll provide detailed instructions on how to sort your member list to maximize demographic distribution and shopper participation. Be assured that we will protect the confidentiality and privacy of your members throughout the process. At no time will we need member account numbers. For your peace of mind, we provide a signed confidentiality agreement to you that outlines our firm commitment to protecting your member data.


4. Shopper Certification


Unlike other shopping systems, we certify each member who agrees to shop your credit union to insure you get detailed, accurate results. Potential member shoppers simply log on to the MemberShoppers Web site to complete the certification. Once they demonstrate an ability to recognize and evaluate sales and service skills, shoppers receive clear instructions on how, when, and where to shop your credit union.


5. Fast, Accessible, Organized Results


Because our reporting system is Internet-based, your coaches and executives will have immediate access to shops as they are reported--24 hours a day! We eliminate the need to keep stacks of reports. Simply access your reports how you want, when you want. Quickly obtain individual, branch, and company-wide reports by entering your unique passcode. You can view the reports online or download them in PDF format for storing or printing.

Our built-in Web filters allow you to generate separate reports based on custom dates, delivery channel, and transaction type. For example, you can choose to look at shops for all deposit accounts opened by telephone in the last 53 days or all loan accounts opened in a specific branch in the last 120 days. This filtering system allows you to pinpoint specific problem areas so you can conduct just-in-time training and coaching.

Executives and coaches will be assigned permission levels to ensure they view only results that correspond with their area of responsibility.


6. Coaching Tools and Training


Too often credit unions invest in a mystery shopping program and then fail to use the results to improve performance. We are committed to helping you maximize your investment in your shopping program. That's why we've developed the most comprehensive coaching support system in the industry.

When you become a MemberShoppers credit union, we'll send one of our experienced credit union trainers to work with your coaches. Your trainer will demonstrate step-by-step how to use the MemberShoppers coaching reports and coaching tools. Your coaches will get hands-on practice in using the tools to conduct an effective coaching session that improves employee performance.

After your initial training is complete, your coaches will receive ongoing coaching guidance through the MemberShoppers online coaching support tool. Every time a coach generates a report for an individual employee, the MemberShoppers coaching support system automatically generates an accompanying coaching session guide that leads the coach step-by-step in planning and conducting an effective one-on-one coaching session. Each coaching guide is customized to reflect the individual employee's specific strengths and developmental needs.

The MemberShoppers executive and coaching support tools and reporting system will allow your credit union to develop clear action plans to improve the member experience. MemberShoppers helps you target training programs precisely to maximize the use of precious training time. Our comprehensive surveys allow you to identify specific skill areas for improvement both at the individual and team levels. You'll also be able to evaluate developmental needs across delivery channels and transaction types in order to create customized action plans for your credit union.


7. Tailored to complement the ServiStar™ program


For credit unions that use the ServiStar™ program, MemberShoppers is the perfect companion. Shoppers will evaluate your employees based on essential skills developed during ServiStar™ training and coaching:


• The 7 elements of exceptional service
• Needs-based selling
• Use of benefit statements
• Member relationship development
• Use of referral collateral
In addition, the MemberShoppers coaching guides and action plans are aligned with the ServiStar™ coaching method.

Of course your credit union does not have to use the ServiStar™ training materials to take advantage of the benefits of MemberShoppers. Our shopper surveys are designed to cover the essentials of sales and service delivery that are critical to enhancing the member experience in every credit union.

* ServiStar™ is available from Michael Neill & Associates in partnership with the Credit Union Executives Society (CUES). For more information, contact Michael Neill and Associates at 888-440-0552 or info@michaelneill.com.

Want to see more?

Experience MemberShoppers for yourself. We can't wait to take you on a tour of the MemberShoppers comprehensive online survey collection and reporting system. To schedule a demo, call Constance Anderson at 800-548-4417 or e-mail us at info@membershoppers.com.