WABAN, Mass.-Credit unions as an industry have finished atop one research firm's Customer Experience Ratings.
The survey of 10,000 consumers by the Temkin Group here found overall satisfaction with financial institutions improved during 2012, as it did in the two years prior to that, as well. Overall, the banking industry earned the fifth highest average rating out of 19 industries that were measured.
The Temkin Experience Ratings evaluates three areas of customer experience: functional (can customers do what they want to do), accessible (how easy it is to work with the company), and emotional (how consumers feel about their interactions).
Credit unions took first place in the financial services industry for the second straight year with a rating of 79%. USAA earned the second spot with a rating of 78%, followed by ING Direct and TD Bank, which tied for third place with ratings of 74%.
The Temkin Group said that credit unions lead in the functional and accessible components, while USAA leads in the emotional component.
The lowest-ranked bank was HSBC, with a score of 57%, finishing behind Capital One (62%) and Bank of America (63%). Citibank improved by 15 percentage points between 2012 and 2013. This gain represents the largest improvement by any company across all industries.
For more info: www.temkinratings.com.
