Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Australian banks behind CUs in customer satisfaction
SYDNEY, Australia (7/29/10)--Australia's credit unions and building societies have maintained their edge over the country's banks in the latest customer satisfaction survey. Australia's banks improved their customer satisfaction rate the past year but are still well behind credit unions and building societies, according to a June survey by Roy Morgan Research, an Australian marketing and public opinion survey firm (Business Day July 28). Credit unions had 86.3% in customer satisfaction, compared with banks' 73.5% and building societies, which are mutual associations, with 89%. Although Australia and New Zealand Banking Group (ANZ), the third largest bank in Australia, was the market leader among the nation's Big Four, it remained at 75.5% in customer satisfaction. Commonwealth Bank of Australia, which has the largest market capitalization, gained a little on ANZ, the study said. A similar poll studying small business owners' satisfaction with banks found that the small businesses' satisfaction level with each of the four big banks--ANZ, CBA, NAB and Wespac--fell further behind the rate for smaller financial institutions. Their satisfaction level was nine percentage points lower than other customers' satisfaction with the four banks and 8.9% lower for all banks. Generally, small businesses rated their satisfaction levels 7.3 percentage points lower than other bank customers, according to a press release (RoyMorgan.com July 10).
Other Resources

RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
29 minutes ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
48 minutes ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
1 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
2 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
4 hours ago