CONSUMER ATTITUDES: Institutions Rates Well Overall, But Weakly

Asked how satisfied they are with their financial institutions' service, six of 10 people say "very satisfied."

That finding, from the latest American Banker national consumer survey, approximates what many institutions get from their internal research. Credit unions and the best banks tend to do a few percentage points better. Commercial banks on average do a few points worse, according to the Gallup Organization's polling for American Banker.

But when customers are asked about various components of service - such as staff quality, statements, and pricing - these invariably come in worse than the "overall" measure. It happens year after year.

In the September-October 1996 survey, "friendliness and courtesy of staff" came closest to the top-line norm, at 56%. Of several other components tested, only automated teller machines and understandability of statements get "excellent" ratings from as many as 50%.

The good news is that financial institutions' whole is bigger than the sum of their parts, perhaps a testament to public image and brand strength.

The bad news is that the industry does worst on what might be termed core attributes: Fewer than one-quarter of respondents considered their institutions excellent in speed of loan decisions, interest rates, or ATM fees.