Regional and Community Banks Top CUs in Customer Satisfaction

The American Customer Satisfaction Index (ACSI) reported that regional and community banks topped credit unions in customer satisfaction.

Regional and community banks had a combined score of 83, up 3.8 percent from a year ago. When super-regional banks and money center banks are included the industry's combined score was 80 -- up 5.3 percent from a year ago.

In comparison, credit unions edge up 1.2 percent to 82, slightly below the industry’s long-term average.

The report noted that strong membership growth at credit unions was putting a strain on the customer experience at credit unions.

Areas experiencing deterioration at credit unions were call centers, variety of financial services, and convenience.

The score for call centers fell 2 percent to 83.

In addition, members reported a slight drop in the availability of a variety of financial services, which fell from a score of 84 to 83.

Also, credit union members' assessment of the number and location of branches fell 3 percent to 68. The report further noted that credit union members wanted greater access to ATMs, as this benchmark fell 7 percent from a year ago to 67.

The report further noted that there was no change in customer experience in six areas, including courtesy and helpfulness of staff, satisfaction with website, and the speed in which transactions were completed.

Read the press release.