Tuesday, December 11, 2012

Customer Satisfaction at CUs Fell in 2012

Customer satisfaction with credit unions fell in 2012, according to the American Customer Satisfaction Index (ACSI).

Credit union satisfaction fell 5.7 points to an ACSI score of 82.

ACSI commented that "a change toward more fees and higher minimum balance requirements could be worrisome given the industry’s weaker customer service this year. For credit unions, maintaining high customer satisfaction will demand more resources, along with judicious competitive monitoring of fees and costs."

Despite the decline in customer satisfaction, the survey noted that customer service score at credit unions is still the highest for the financial services industry.

Read the report.
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4 comments:

  1. AnonymousDecember 12, 2012 at 9:28 AM

    $1.9 billion settlement from HSBC for rampant BSA/AML violations! Where is the watchdog on this breaking news?

    Credit unions are questioning whether banks should have the right to conduct interstate banking activity. These megabanks cant seem to adhere to US banking laws...

    ReplyDelete
  2. AnonymousDecember 13, 2012 at 7:57 AM

    Yes that's correct and let's hope any behavior like that gets dealt with severely.
    But, what does that have to do with cu customer satisfaction and what have you done to turn all the bad bank news into more credit union business?
    Answer to both questions.
    Nothing.
    Stop repeating the Cuna (cu not accountable) party line.
    Learn to think.
    If you do, you might stop throwing member money over the fiscal cliff aka Cuna.

    ReplyDelete
  3. AnonymousDecember 14, 2012 at 1:22 PM

    I'm glad to hear that there is still support within the banking community for facilitation of money laundering and financial crimes.

    Without Megabanks that can turn a blind-eye to illegal activity, just so they can make another buck, who would fill this need in the marketplace?

    I am not sure this is the "CUNA party line". They are too focused on the MBL cap and not focused enough on eliminating the tremendous market advantages that banks have over credit unions. I advocate a repeal of the Reigle-Neal Act and the breakup of existing US Megabanks.

    Banks are getting too big and consumers are the losers at the end of the day.

    ReplyDelete
  4. AnonymousDecember 16, 2012 at 4:35 PM

    In a free market society, if the consumer is "losing", it's their fault for not switching.
    Or, cu and community bank marketing stinks.
    Or, theyre not losing.

    ReplyDelete

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