Through this partnership, Market Rates Insight and myCUsurvey will be able to combine their research services to promote a deeper understanding of market drivers affecting credit unions and community banks. Market Rates Insight provides competitive market rate data for deposits, loans and fees, allowing credit unions and banks to understand the competitive landscape for financial products. myCUsurvey offers credit unions and community banks research surveys to better understand what promotes customer satisfaction and keeps consumers engaged with their bank or credit union. Working together, the two companies will be able to pool their expertise to help banks and credit unions better understand what motivates customers and members and how to build balances.
“In the current economic climate, deposit rates are no longer a driving factor for depositors, so the question facing the financial community is what promotes customer loyalty?,” said Rick Barham, founder and CEO of Market Rates Insight. “By working with myCUsurvey, we will be able to take what we know about market trends for deposits, loans, and fees, and expand our understanding of what forces are really driving consumer behavior for banks and credit unions.”
The two companies are currently developing a market survey to assess the impact of rates and other factors on consumers’ behavior. The forthcoming consumer survey is expected to assess issues such as savings trends, the impact of mobile banking and access to mobile money on customer satisfaction and member loyalty, the impact of specialty bank and credit union product promotions through services such as Groupon, and related issues. The results of the joint survey are expected to become available later in the fourth quarter of this year.
“In conducting our initial research for credit unions, we have determined that member satisfaction and their willingness to recommend is driven by a diverse set of factors, including rates,” said Dr. Jack Bieda, founder and CEO of myCUsurvey. “By working together, we will be able to uncover what motivates consumers and provide our clients with better market intelligence to help them develop strategies to increase customer satisfaction and build deposits.”
Interested parties can request copies of the latest market study in advance by sending email to firstname.lastname@example.org.
About Market Rates Insight
For more than two decades, Market Rates Insight (MRI) has been helping subscribers price with precision by providing banks, thrifts, credit unions, and other financial institutions with accurate market intelligence on deposits, loans, and fees. MRI uses deposit surveys, mortgage and consumer loan surveys, fee and feature studies, scanned ads, new product alerts, and market share and money fund reports to give subscribers the intelligence they need to profitably react to emerging trends. MRI’s products include customized, web-enabled market research tools that report on rates, as well as online searchable databases, gauges, alerts, and dashboards that aggregate key client data to provide real-time views on how they stack up against market competitors.
Market Rates Insight is located in San Anselmo, California. For more information, see http://www.marketratesinsight.com.
Developed specifically for use by credit unions, myCUsurvey provides an affordable approach to conducting meaningful research about member satisfaction. myCUsurvey offers surveys designed by credit union professionals to provide insight that is relevant, timely, and actionable, and that is benchmarked against national, regional, and like-sized competitors.
myCUsurvey is a division of PinPoint Research Corporation, a market research firm that has been using computer and IVR (interactive voice recording) technology to power research studies since 1986. Today, PinPoint Research manages more than 20 million surveys per year, including research for the top 35 research companies in the country.
For more information, visit http://www.mycusurvey.com.
For additional information contact:
Market Rates Insight