Building Member Loyalty in ASN Savings and Loan Cooperatives Through Relationship Marketing: The Mediating Role of Service Value and Uniqueness
DOI:
https://doi.org/10.51278/bce.v6i3.2985Keywords:
Relationship Marketing, Service Value, Service Uniqueness, Member Loyalty, Civil Servant Savings , Loan CooperativeAbstract
This study aims to analyze the effect of relationship marketing on the loyalty of Civil Servant (PNS) members in the Civil Servant Savings and Loan Cooperative (ASN Cooperative), examine the mediating roles of service value and service uniqueness, identify the factors explaining why the cooperative primarily focuses on Civil Servants rather than Government Employees with Work Agreements (PPPK), and formulate relationship marketing strategies to maintain member loyalty amid competition from the Red and White Village/Sub-district Cooperatives (KDMP) and other financial institutions. This research employed a mixed-methods approach using a sequential explanatory design. The first stage applied a quantitative approach through a survey of cooperative members, with data analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The second stage employed a qualitative approach through in-depth interviews with cooperative managers, supervisors, and members to strengthen the interpretation of the quantitative findings. Qualitative data were analyzed through data reduction, data display, conclusion drawing, and source triangulation. The findings indicate that relationship marketing has a positive and significant effect on member loyalty. Service value and service uniqueness significantly mediate the relationship between relationship marketing and member loyalty. Service value emerged as the strongest mediator in enhancing loyalty, whereas service uniqueness showed a significant negative effect, indicating that members place greater emphasis on tangible benefits, service convenience, security, and trust than on service innovations that do not match their actual needs. The interview findings reveal that the cooperative's focus on Civil Servants is influenced by its Articles of Association and Bylaws, financing risk considerations, and decision-making mechanisms through the Annual Members Meeting (RAT). Furthermore, effective relationship marketing strategies include strengthening family-oriented relationships, improving service quality, ensuring transparent governance, providing sustainable economic benefits to members, and enhancing organizational capacity to respond to competition from KDMP and other financial institutions.
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