Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Banks' Customer Service No Match For CUs--Tempkin Survey
WABAN, Mass. (3/29/13)--Credit unions still lead the banking sector by a sizeable margin in customer experience, even though customer service has improved overall in the banking sector, according to the just-released 2013 Temkin Experience Ratings.

"Credit unions take first place in the industry for the second straight year with a rating of 79%," said Waban, Mass.-based Temkin Group. Credit unions are well above the banking sector's average score of 68.6%.

Credit unions led in two out of three evaluation areas: Functional (can member/customers do what they want to do) and Accessible (how easy it is to work with the company). USAA, which got the second highest banking sector score at 78%, led in the third area, Emotional (how consumers feel about their interactions).

"Credit unions and USAA continue to lead the banking industry in customer experience, but the entire sector is making great progress," said Bruce Temkin, managing partner at Temkin Group.

Tempkin noted that the banking industry has steadily improved the past three years, from an average rating of 62% in 2011 to this year's 68.6%.  HSBC (57% score)  and Capital One (62%) and Bank of America (63%) were the lowest-ranked banks.

Ratings for two of the banks declined since 2011. PNC lost six percentage points, while HSBC lost one point.

The banking industry earned the fifth highest average rating out of 19 industries served. Scoring higher than the banking sector were grocery chains, fast food chains, parcel delivery services and retailers.

The results are based on a study of 10,000 U.S. consumers. Credit unions already are getting positive headlines in media because of the survey. The Sacramento Bee, the Birmingham Business Journal, and The FinancialBrand.com reported on the study this week.

Last year, credit unions topped a number of customer service ranking studies.


RSS





print
News Now LiveWire
Final field-of-membership rule tops April 30 NCUA agenda http://t.co/gFIhRhUCts
16 hours ago
.@CUNA's @Nussle speaks to @VonnieQuinn about #StoptheDataBreaches and reg. relief. http://t.co/TMTubG9Afk
18 hours ago
RT @NCUFoundation: .The Foundation's @hylandhighway with @NatlJumpStart President/CEO Laura Levine at #FLHillDay2015 today: http://t.co/ep5…
21 hours ago
Seriously underwater homes rise, new-home sales tumble News Now: http://t.co/2LzWTkqnES
21 hours ago
#NewsNow Cornerstone Foundation awards $71K in grants http://t.co/Y6D8K9rwWv
23 hours ago