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News Now

CU System
Member experience at CUs high across channels
MADISON, Wis. (3/27/14)--Credit unions continue to be heralded for their excellent service--in person and online, according to two recent surveys.
 
Credit unions ranked at the top of the American Customer Satisfaction Index (ACSI) for website experience. ACSI's new survey measured more than 200 companies within 33 industry categories, and it found that credit unions had the highest satisfaction score of 86.
 
The national average website satisfaction index clocked in at 78.2, and consumer shipping and banks came in at just a tick mark shy of credit unions at 85. Social media was at the bottom of the list with a ranking of 68.
 
Two of the top three industries for website satisfaction--credit unions and consumer shipping--also do well in terms of overall customer satisfaction, ACSI said. The third-quarter 2013 score placed credit unions at 85 for member satisfaction.
 
Banks, however, have an overall customer satisfaction score of 78, which falls well below their website rating and credit unions' overall satisfaction rating.
 
Also, research firm Temkin Group found that credit unions earned an 81% rating for customer/member experience across 19 industries covering 268 companies. The term "a credit union" ranked higher than any branded bank with a proper name in the financial institution portion of the survey.
 
In fact this is the second year credit unions have been at the top of the Temkin Experience Ratings, which measure:
  • Functional: How well do experiences meet customers' needs?
  • Accessible: How easy is it for customers to do what they want to do?
  • Emotional: How do customers feel about the experiences?
Overall, credit unions tied for eighth place, coming in behind grocery stores such as H.E.B., Trader Joe's and Aldi, and fast-food restaurants Chick-fil-A and Sonic Drive-in. Credit unions are 10 points above the industry average for their category as well.
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