Case Study: Credit Unions uncover why consumers join and boost retention with Crimson Hexagon

Credit Unions - Customer Case Study

Crimson Hexagon, a social media analytics provider, was engaged to help a retail bank improve customer retention by uncovering why consumers join credit unions. Using its ForSight platform, the team analyzed roughly 230,000 social posts about credit unions (Jan–Nov 2012) and about 12,600 posts specific to Navy Federal (Jan 2012–May 2013) to build a competitive-analysis framework.

The analysis found customer service was the top migration driver (17%, up 20% since Jan 2012), with credit-building (15%), higher credit limits (14%), lower loan rates (14%) and fee savings (13%) also influential; community feel rose as an intangible benefit (9%, +12%). For Navy Federal, 71% of service conversation was positive—driven by customer pride (29%) and speed (28%)—while long lines (18%) were the main grievance. These insights were used to inform product, service and positioning strategies for retail banks.