Monday, April 21, 2014

Florida CUs Have Highest Complaint Incidence

A report by K. H. Thomas Associates found that two Florida credit unions -- Space Coast and Brightstar -- had the highest Bank Complaint Index (BCI) in Florida.

The report noted that it found it surprising that a growing number of credit unions were in the BCI Top Ten list in recent years, considering that credit unions have a reputation of providing good customer service.

The report found that "[t]wo of the highest BCIs in 2013, both over 6.0, were from credit unions and three of the four highest BCIs in 2013, all over 1.5, were from credit unions."

The BCI is calculated by dividing the complaint market share by deposit market share.

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