Wednesday, December 22, 2010

Customer Satisfaction at CUs Drop

According to the American Customer Satisfaction Index, credit unions suffered a sharp drop in customer satisfaction. The satisfaction index fell by almost 5 percent to 80.

Difficulties associated with managing rapid growth along with financial losses were cited as contributing factors to the decline in customer satisfaction. The December 14 press release states:

"Since credit unions can’t raise capital by selling stock, the only recourse to recover losses is through cost-cutting, which usually leads to less customer service, or raising fees, which leads to higher customer cost."


Credit unions and community banks have the same satisfaction index.

To read the press release, click here.
Posted by at
Labels:

1 comment:

  1. AnonymousDecember 23, 2010 at 10:08 AM

    Thanks for providing a link to a study which helps prove the need for access to alternative capital Keith.

    ReplyDelete

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.