Dive Brief:
- Navy Federal Credit Union and USAA are tied for having the highest net promoter scores among consumer banks providing checking and savings accounts, according to a NPS Prism report released Wednesday. NPS Prism, a CX benchmarking service provided by Bain & Company, surveyed thousands of customers across 10 industries to determine the loyalty metric.
- Navy Federal led among consumer banks providing credit cards, with an NPS score of 60. USAA led the insurance industry across all categories, including life, with a score of 61; home and auto, 70; and annuities, 62.
- USAA credits its frontline employees for driving exceptional member service. “They understand the unique circumstances and life events of our military-centric membership and work hard to provide the peace-of-mind that our members count on us for,” Darlene Mac Cormac, VP of bank omnichannel experience and delivery at USAA, told CX Dive in an email. Navy Federal did not respond to CX Dive by publication time.
Dive Insight:
Navy Federal and USAA consistently lead in NPS rankings in the banking industry. By serving only members of the military, veterans and their families, both banks have the advantage of knowing their customer base and adapting to their needs.
USAA employees lead relationship-building efforts with its members. “Our [member service representatives] treat every call as an opportunity to strengthen our relationship with the member, rather than just answering a query or providing resolution,” Mac Cormac said.
USAA also focuses on providing its staff with extensive training from the outset and offers continuous education.
NPS Prism isn’t the only provider to list USAA and Navy Federal ahead of the pack. A 2023 Forrester NPS ranking report found that despite dropping 10 points over the year, USAA also led direct banks. The Forrester report found that Navy Federal led among multichannel banks — besting its closest competition by more than 20 points.
