Navy Federal Again Ranked No. 1 Among Multichannel Banks For Customer Experience
For the seventh year in a row, Navy Federal Credit Union ranks No. 1 among multichannel banks for customer experience (CX) quality in Forrester’s proprietary 2022 US Customer Experience Index (CX Index™). The ranking was based on responses from more than 96,000 survey respondents from 13 industries, including airlines, auto and home insurers, auto manufacturers (luxury and mass market), banks (direct and multichannel), credit card issuers, federal government agencies, health insurers, hotels, investment firms, retailers, and utilities. The credit union is also named a CX Elite brand (a top 5% brand in the entire CX Index) for banks (multichannel) and credit card issuers.
"Our members are at the heart of what we do. We strive to go above and beyond in each interaction we have making their experiences our top priority," said Pam Piligian, Chief Marketing Officer at Navy Federal." I am proud of our employee’s determination in making our members our mission."
As a CX Elite brand for banks (multichannel), Navy Federal ranked in the following categories:
Customer/Member Service
Clear Communication
Providing transparent prices, rates and fees
Most Recommended by customers/members
Among Credit Card Issuers, Navy Federal ranked second highest in the CX Index rankings.
Forrester’s CX Index score measures how a company delivers customer experiences that create and sustain loyalty. Conducted for the seventh year in a row, Forrester's 2022 CX Index results are benchmarked on a survey of 96,211 US customers across 221 brands and 13 industries. Forrester’s proprietary Customer Experience Index methodology provides the data and insights needed to assess CX quality, understand how CX impacts loyalty intentions, and prioritize improvements that drive revenue. Even a minor improvement to a brand’s customer experience quality can add tens of millions of dollars of revenue by reducing customer churn and increasing share of wallet. Forrester’s Customer Experience CX Index rankings and results reports are accessible within the Forrester Decisions portfolio of research services. Clients of Forrester Decisions for Customer Experience and Forrester Decisions for B2C Marketing Executives have access to the CX Index Extended Data Benchmark to help prioritize improvements based on industrywide trends and impact on customer loyalty.
“This year’s CX Index results clearly indicate that brands need to continue to be customer obsessed — putting their customers at the center of their leadership, strategy, and operations — if they want to deliver exceptional CX,” said Michelle Yaiser, VP of CX Analytics at Forrester. “Brands that provide strong emotional quality in customer experiences see higher CX Index scores, foster greater brand loyalty, and enable stronger customer trust.”
Navy Federal is regularly recognized for its dedication to creating and supporting a thriving work environment. Earlier this year, Navy Federal celebrated its 12th year on the FORTUNE 100 Best Companies to Work For® list. The credit union has also received other recognition this year, including: “Best Credit Unions” by GoBankingRates and “Best Auto Loan Lenders” by Bankrate.