WESTBROOK, Maine (1/6/10)--Maine consumers rated credit unions higher than other financial institutions in rates, services and products, and are twice as likely to recommend a credit union over another financial institution, according to a report. “Perceptions of Banks and Credit Unions” by Market Decision--a Portland, Maine research firm--indicated that Maine credit union members are significantly more satisfied than customers of other financial institutions, said the Maine Credit Union League. The firm interviewed and surveyed 400 Maine consumers statewide for the report. "The study’s findings that Maine credit unions are the only segment in the financial services industry in the state that reaches the threshold considered a benchmark for a high-performing organization in the financial services industry further emphasizes [how well-positioned credit unions are]," said John Murphy, Maine league president. The study also indicated:
* Consumers said credit unions paid better interest rates (49%) than banks (25%); * Credit unions (36%) were viewed as better at giving back to the community than banks (28%); and * Consumers said credit unions (35%) offered friendlier service than banks (18%).
"The findings and results validate the important and positive role that credit unions have in providing financial services to Maine consumers,” Murphy said. “Despite the economic uncertainty and events of the past year throughout the financial services industry, credit unions in Maine are performing well and, as this study found, offer value and benefits consumers clearly recognize and appreciate."