Credit Unions Tops In ConsumerSatisfaction
NEW YORK - (10/19/05) -- Credit unions topped the financialservices industry in customer satisfaction in the annual surveyconducted by The American Banker newspaper, for the 21st year in arow. The survey, conducted by the Gallup Poll for the AmericanBanker, sister publication of The Credit Union Journal, found that71% of credit union member/customers were 'very satisfied' withtheir choice of financial institution, compared to 63% for banksand 58% for thrifts. Credit unions also scored strong onmember/customer trust, with just 23% saying of customers sayingthey are 'very concerned' their primary financial institution mayrelease their financial information, tied for the top with banks(27% of thrift customers said so). Also 46% of credit union memberssurveyed, the highest percentage, said they would trust theircredit union first when shopping for a new financial product. Thatcompares to 44% of bank customers and just 35% of thrift customers.The annual survey was conducted randomly by telephone from June 6through June 20 among 1,000 heads of households throughout theU.S.