Credit Unions

Never before have credit unions faced so many opportunities for growth and challenges to their success. Capitalizing on their positive reputation and strong member relationships, they are growing and expanding their footprint with new products and services. But simultaneously, they face competitive threats from top-tier banks with wide footprints, upstart FinTech’s that are changing the way banking is done, and a need to gain traction with younger generations who possess entirely different relationship priorities. Questions arise: How can my institution compete and grow its membership? How can we deepen our relationship with our most valuable members? What types of self-service channels and digital innovation should we invest in that will satisfy members while maintaining strong personal relationships? How can we sign up the next generation of committed members?

How Innovative is Your Credit Union? Rockbridge works with the Filene Research Institute to develop a Credit Union Innovation Index to help inform innovation strategy in the sector. Rockbridge’s American Innovation Index™ (Aii), in partnership with Fordham University and the Norwegian School of Economics, measures the innovativeness of U.S. companies based on the experiences of their own customers, which has been proven to impact customer loyalty and the bottom line. The Credit Union Innovation Index sponsored by Filene measures the innovativeness of individual credit unions and provide benchmarks and learning to guide their individual innovation strategies.  The initial results of the first wave of the study are available now: Filene Credit Union Innovation Success Study: Initial Insights

Rockbridge has qualitative and quantitative research solutions that were developed to help your credit union retain and grow your member base, deepen relationships with valuable members, and create an optimal service experience across channels, including the following:

  • Customer loyalty research using MaxShare™ to pinpoint opportunities that are proven to increase share of wallet among your most valuable customers
  • An affordable customer experience (CX) platform to measure and track performance of your service channels
  • Product optimization to guide development of standalone and relationship products
  • Member segmentation to identify and target your most valuable members
  • Brand positioning research to understand your credit union’s position in the marketplace and drivers of choice of financial institutions using MaxMindShare™
  • Communications research to uncover the underlying emotions and values that drive choice of financial institutions using MaxMessage™
  • Customer dialogue through our qualitative social media research application, OpinionPond™

We know credit unions and can serve you better. Our clients include the nation’s largest credit union and many small and mid-sized credit unions as well. Our staff has decades of experience working with credit unions and other financial services providers to ensure the research guides your business decisions.

If you are interested in learning how we can support your credit union or you would like your credit union to participate in the next innovation study, please contact us.

Rockbridge is an excellent partner for us. They have been patient and spent a lot of time with us in the beginning navigating internal roadblocks and helping ensure our member experience tracking study would be a success, both methodologically and with internal stakeholders. They are extremely professional and it’s easy to put them in front of my internal clients and stakeholders. Rockbridge has a deep bench in terms of their skillset and are very responsive to our needs. They see the bigger picture and are helping us take this study to the next level.
– Kathleen M., Manager, Navy Federal Credit Union