Perception Survey 2022

Member Benefits completed its fourth annual Member Perception Survey to gauge customer satisfaction and understand trends. Says David Kijek, President and CEO, “We always appreciate member feedback so we can know how to best meet your needs.”

First impressions

What first comes to mind when thinking about WEA Member Benefits is:

Members’ first impressions include:

“Well managed and easy to access help with any questions.”

“Value. WEA professionals provided my wife and I with financial advice that allowed us to achieve financial security in retirement.”

Reputation

Member Benefits has a world‐class reputation among members. Eighty-eight percent felt we have a Very Good or Excellent reputation.

Expectations

Sixty-nine percent of members feel Member Benefits Exceeds or Somewhat Exceeds expectations, a 2% increase from 2021.

Lives up to brand promise

Member opinion on whether Member Benefits lives up to its brand promise remains excellent at 90% replying Often or Always.

Financial security

The number one personal financial issue for members every year of our survey, including this year, is preparing for the future (32%), followed by the economy and politics (16%), and paying off debt (12%).

Financial security results

Customer satisfaction

As in 2021, a vast majority of respondents Agree or Strongly Agree that providing excellent customer service is a top priority at Member Benefits.

“I feel like they have always delivered on promises and I can trust them to give me advice that will actually benefit me, not them.”

“They provide the most personal attention of any company I have worked with.”

Customer satisfaction results

Net Promoter Score

The Net Promoter Score, a measure of likelihood to recommend an organization, remained consistent from last year (57%). A score above 50% is considered excellent.

Net promoter score results

Top advice from members

Member advice for David Kijek focused on service and outreach, which has been a top priority each year of the survey. Members would like more personalized contact with representatives, and education remains important to members.

One‐quarter of respondents gave us kudos and thanks, such as:

“Honestly, I really like what you do. I look forward to your quarterly magazine. I like your website. I think your employees are respectful and kind. Keep up the good work.”

“Continue to provide the affordable investment options that you do for your members.”

“Thank you for being responsible and committed to WEA members.”

David Kijek adds, “Despite the challenges that continue with the pandemic, you’ve let us know that we’ve continued to provide the excellent customer service you have come to value—and that is incredibly important to us. We’ll keep striving to make improvements and to do our best to serve you.”

No participants of this survey were compensated for their reviews.

Inflation got you down? Don’t panic

The price of stuff is going up, which may be the case for some time. Do you also know about these other components of inflation?

Shrinkflation. Companies reduce the size or quantity of their products while charging the same price or even more. One example is paying the same for less sheets of toilet paper (and smaller sheets!). Companies have been doing this for years because people are more sensitive to changes in price than to changes in quantity.

Skimpflation. Instead of simply raising prices, companies skimp on the goods and services they provide. Shoddier service is the result of a labor shortage and rising business costs. For example, it’s now taking longer for packages to be delivered.

The key to coping with inflation is to plan for it.

Help secure your account

Two-factor authentication (2FA) is required to access your retirement account through yourMONEY. If you receive a phone call or text message providing a verification code and you aren’t currently attempting to log into your account, please notify us as soon as possible and change your account password.

We also encourage you to add a verbal password to your account as an extra layer of protection. You will need to know this password if you call us to discuss specifics about your account. Simply complete and send in the Telephone Access authorization form from our retirement forms and brochures page or call us to request one.

A Trusted Contact is someone you deem trustworthy who may be contacted by Member Benefits if we are not able to reach you or if we have reasonable belief that you or your account may have been exposed to financial exploitation. The Trusted Contact does not have rights to make changes to your accounts.

Setting up a Trusted Contact is optional. If you are interested, please contact a Member Service Representative at 1-800-279-4030.

Severe weather WATCH vs WARNING

WATCH
A severe thunderstorm or tornado watch gives you advance notice that conditions are favorable for dangerous weather. When your area is in a watch, stay alert for changing weather. During a watch, there will be information about what type of weather you might see and the chance of it actually occurring. Risk levels can range from a few storms with hail and high winds to a particularly dangerous situation when deadly tornadoes can occur. Tune in to local news for updates.

WARNING
A warning is issued when severe weather is about to strike in your area. For severe thunderstorms, tornadoes, and flash floods it means the weather event is happening now and you need to take action immediately.

Review your family emergency plan and check your emergency supply kit so that if a warning is issued, you’re prepared. For more information, go to www.ready.gov.