SACRAMENTO, Calif.-The Golden 1 Credit Union topped all California banks and credit unions in a recent service satisfaction study by Prime Performance.
The Boulder, Colo.-based financial institution consultancy said the $7.4-billion CU had a 79% "Prime Experience Index," or PXI. Prime Performance said PXI is the average net score from four questions on its online survey of consumers: overall satisfaction, how likely to recommend the FI, how likely to go to that FI first for future financial products and services, and how effective the FI is at meeting their needs.
Trailing Golden 1 in the PXI were Bank of the West (68%), Union Bank (66%), U.S. Bank (57%), and Wells Fargo (51%). Rounding out the top eight were: Citibank (48%), Chase (43%), and Bank of America (39%).
At least 70 survey responses were needed to rank a financial institution, with many credit unions unranked due to a small sample size.
In the service category, Golden 1 was first with 88% of respondents satisfied and only 1% dissatisfied. The CU had the same numbers (88%/1%) in the "likely to recommend" category.
Donna Bland, Golden 1's president and CEO, said she was pleased with the ranking because a high standard for exceptional service is a "primary focus" for the credit union's entire organization. She said even as Golden 1 adds new members in large numbers, "We will never sacrifice that standard."
"We continually communicate the importance for exceptional service to all of our employees," she said. "And we are promoting the convenience of other channels so members can accomplish a lot of transactions on their own. Every member's perception of 'service' varies. Some people want to come into a branch, others are happy to use a PC or a mobile device. We constantly train our employees on all of our products and services so they can answer all questions members have.
"The difference between a credit union and a bank is the commitment we make to stay focused on service," she added.
