customer activity
Key performance indicators relating to the strength of customer relationships include product usage, customer retention rate and average customer support value. Figure 5b indicates bankmecu’s continuing strong performance this year.
Figure 5b: Customer activity
|
Indicator
|
Definition
|
2010/11
|
2009/10
|
2008/09
|
|
Product usage
|
% of account holders with three or more products through bankmecu
|
72.84%
|
70.91%
|
76.33%
|
|
Customer retention rate*
|
% of account holders retained over the last 12 months
|
99.36%
|
99.34%
|
99.27%
|
|
Customer support value
|
Total loans plus total deposits/number of account holders
|
$33,000
|
$28,905
|
$26,259
|
*Customer retention rate excludes dormant accounts.
The increase in customer support value reflects an increasing penetration of and engagement with the community sector.