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Business Wire
15-07-2025
- Business
- Business Wire
Navy Federal Ranked No. 1 For Customer Experience Among Multichannel Banks for the 10th Consecutive Year
VIENNA, Va.--(BUSINESS WIRE)--For the tenth straight year, Navy Federal Credit Union ranks No. 1 among US multichannel banks for customer experience (CX) quality, according to Forrester's latest Customer Experience Index (CX Index™) Rankings, report, which analyzes customer experience across 469 brands in 13 countries, recognizes brands that create and sustain loyalty with their customers. Forrester has also labeled Navy Federal as an elite brand within the CX Index in the US. 'Member service is at the heart of everything we do at Navy Federal Credit Union,' said President and CEO Dietrich Kuhlmann. 'We are proud that Forrester has ranked us as the top US multichannel bank for customer experience this year." 'Member service is at the heart of everything we do at Navy Federal Credit Union,' said President and CEO Dietrich Kuhlmann. 'We are proud that Forrester has ranked us as the top US multichannel bank for customer experience this year. To us, this honor reflects Navy Federal's foundational, ongoing commitment to serving our 14 million members, no matter where they are in life or in the world.' In addition to its CX Index, Forrester's Brand Experience (BX) Index offers a powerful framework to evaluate how consumers connect with brands. The BX Index identifies three critical drivers of brand perception: Salience – Is the brand top of mind for consumers, and is it viewed favorably? Fit – Does the brand align with the customer's needs, values and expectations? Trust – Do customers believe the brand will deliver on its promises consistently? According to Forrester's BX Index™, these three factors together provide a comprehensive view of how brands are perceived and the likelihood of customer engagement. Among credit card issuers, Navy Federal ranked second highest in the BX Index. As a groundbreaking unified metric, Forrester has introduced the Total Experience Score Rankings, 2025. This report combines the BX Index™ and Customer Experience Index (CX Index™) to measure how effectively a company attracts, serves and retains customers across the entire lifecycle. Navy Federal, a brand recognized for its commitment to exceptional service, is among the first companies to be scored using this innovative metric. Navy Federal remains committed to fostering a vibrant and supportive workplace culture. Earlier this year, the credit union proudly marked its 14th consecutive appearance on the FORTUNE 100 Best Companies to Work For ® list and has been recognized by Newsweek as a Most Trustworthy Company in America. In addition to these prestigious honor, Navy Federal has also earned accolades such as ' America's Best Loyalty Programs in 2025 ' by Newsweek for credit cards and ' Best for Small Businesses ' by Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving more than 14 million members globally and is the world's largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their families. Navy Federal employs a workforce of over 25,000 and has a global network of more than 365 branches. For more information about Navy Federal Credit Union, visit Federally insured by NCUA. Equal Opportunity Employer. Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester's objectivity here. Full reports are available from Navy Federal Credit Union upon request.
Business Wire
24-06-2025
- Business
- Business Wire
Forrester's 2025 Global Customer Experience Index Rankings: 21% Of Brands Declined, 6% Improved, And 73% Remained Unchanged
NASHVILLE, Tenn. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--According to Forrester's (Nasdaq: FORR) global Customer Experience Index (CX Index™) 2025 rankings, ongoing challenges that drove last year's decline in customer experience (CX) quality — weaker employee experience, waning customer obsession, disappointing tech implementations, and economic volatility — continue to impact how consumers perceive CX quality. Furthermore, the disparity between the customer experience that brands intend to deliver and what customers actually experience is widening. Globally, only 10 'elite' brands, the top 5% of brands in the CX Index for each country — Banca Mediolanum, Chewy, H-E-B, HSBC, ING, La Maison Simons, Navy Federal Credit Union, RBC Dominion Securities, USAA, and — maintained their status. This year, 14 new brands earned the elite spot on the CX Index, and only one of those (the US National Park Service) had statistically significant score gains from 2024 to secure its place. One other elite brand (HSBC in Singapore) improved its score from 2024. Key findings from the global Customer Experience Index include: In North America, a quarter of brands continued to underperform for two consecutive years. In the US, for the second year in a row, 25% of brands' customer experience rankings declined in 2025, compared to only 7% that improved. Additionally, in most US industries, CX quality declined across all three dimensions: effectiveness, ease, and emotion. Amid ongoing economic volatility, customers continue to find it harder to justify the financial value they derive from their interactions with brands. In Europe, some brand improvements drove nearly half of industries higher. Across the region, 7% of brands improved their customer experience scores this year while 2% declined and 90% were statistically unchanged. At the industry level, some European countries saw modest gains in the banking sector. In Asia Pacific, widespread brand losses hindered progress across most industries. In Australia, Singapore, and India, 37% of brands' customer experience scores fell and 58% remained unchanged. 'Customer experience continues to erode worldwide, reflecting a concerning multiyear downward trend and a shift in sentiment from positive to neutral,' said Pete Jacques, principal analyst at Forrester. 'While the changes may seem subtle, they are significant and cannot be ignored. As customer loyalty declines, brands must focus on providing stronger customer experiences to reverse the trend. Even a minor improvement to a brand's customer experience quality can reduce churn and increase share of wallet.' Forrester's CX Index methodology measures how well a brand's CX strengthens the loyalty of its customers and prioritizes improvements that drive revenue. This year, more than 275,000 customers' perceptions of 469 brands across 12 industries and 13 countries were analyzed. For the first time, Forrester also published the Brand Experience Index (BX Index™) and will unveil the Total Experience Score at its CX Summit North America, enabling brands to understand the full spectrum of interactions that shape customers' perceptions. These rankings are accessible within the Forrester Decisions portfolio of research services. Clients of Forrester Decisions services for Customer Experience, B2C Marketing Executives, and Digital Business & Strategy have access to the CX Index annual benchmarking exercise to help prioritize improvements based on industrywide trends and impact on customer loyalty. Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We empower leaders in technology, customer experience, digital, marketing, sales, and product functions to be bold at work and accelerate growth through customer obsession. Our unique research and continuous guidance model helps executives and their teams achieve their initiatives and outcomes faster and with confidence. To learn more, visit
