Members close their accounts every day. How much do you know about why they do? Membership growth for your credit union is equal parts new account acquisition and retention of existing relationships. As you know, it’s far less costly to retain an existing relationship than to gain a new one.
Our closed account surveys are sent to all members who leave your credit union. The feedback provided by these former members can be invaluable.
- Was there any way the credit union could have retained the relationship?
- Did they close because of pricing? Convenience? Poor service?
- If they left the area did they know about shared branching and ATM networks?
- Is there an unresolved issue?
- Would the member like to receive a call from someone in management?