CHICAGO, Ill. (8/8/11)--Credit unions are outperforming banks when it comes to maintaining member/customer loyalty, according to a nationally recognized customer loyalty metric. Credit unions have a 58% Net Promoter score, compared with 18% at banks, according to the Member Loyalty Group's second quarter credit union Net Promoter benchmark score. The group was created in 2008 to develop a common member loyalty benchmark for the credit union industry. It works with a partner, Satmetrix, to measure and compare member loyalty in credit unions. "The findings really validate what we in the credit union industry have seen time and time again, that members are significantly more loyal to their credit unions than bank customers are to their banks--and that translates to considerable, tangible business benefits," said Michelle Bloedorn, CEO of Member Loyalty Group, a credit union service organization based in Chicago. However, while this is good news for credit unions, "You can't assume just because you're a credit union, that you are also a loyalty leader," she cautioned. Individual credit union scores can vary widely. "In our benchmark study, we saw individual credit union Net Promoter scores range from as low as 19% to as high as 75%," she said. In 2010, "Consumer Loyalty in Retail Banking," a study conducted by Bain & Co., found that customers who are promoters stay longer with their banks, buy more products, refer more new customers and cost less to serve. Loyalty leaders enjoy a growth rate that is 10% greater and a cost of funds that is 80 basis points lower than banks that are considered price leaders, the study found.