Tuesday, May 12, 2015

Florida Depositors Lodge More Complaints against CUs than Banks

A study by a banking analyst once again finds that Florida depositors lodge more complaints against credit unions than banks after controlling for complaint market share versus deposit market share for the institution.

"Miami banking analyst Ken Thomas analyzed consumer complaints filed by Floridians in 2014 against 12 financial institutions. He found that four credit unions had the worst records.

Space Coast Credit Union of Melbourne had the highest incidence of complaints, followed by MidFlorida Credit Union of Lakeland, Suncoast Credit Union of Tampa and VyStar Credit Union of Jacksonville. Among banks, the highest complaint indexes were for PNC and JPMorgan Chase."

Read the story.

1 comment:

  1. Two trillion dollar banks had the most complaints. But when "adjusted for size" it boosted the credit unions. Where is the report to be read? What adjustments were made?



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.