Credit Union Members Have Exceptional Level of Customer Satisfaction; Rise in Technology Doesn't Diminish Importance of Branch Locations

CFI Group releases third Credit Union Satisfaction Index using patented American Consumer Satisfaction Index methodology

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CFI Group

Sep 22, 2015, 08:40 ET

ANN ARBOR, Mich., Sept. 22, 2015 /PRNewswire/ -- The customer satisfaction level of credit union members continues to be among the highest of all industries measured by CFI Group, according to the company's Credit Union Satisfaction Index 2015 released today.

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According to CFI Group's patented American Customer Satisfaction Index (ACSI) methodology, credit unions' satisfaction score of 87 is the gold standard in the financial world, reached by keeping up with the technology demands of customers while continuing to provide the personalized service they were founded upon.

"This is the third year we've measured customer satisfaction with credit unions and the results have been consistently strong," said CFI Group CEO Sheri Petras. "The score of 87 is 8 points ahead of the banking average and 13 points ahead of the highest scoring bank measured by the ACSI."

Like all financial institutions, technology is playing a key role in credit unions' customer satisfaction. In fact, the report indicates online and mobile banking has more influence on satisfaction than any other aspect of the credit union relationship.

But while online banking with credit unions continues to rise – with 82% of customers reporting they completed at least half of transactions electronically – the importance of branch locations remains strong. Only 11% of those surveyed indicate they consider branch locations to be of little or no importance.

New to the 2015 report are questions designed to measure the importance of credit union reward programs and community involvement on member satisfaction. Nearly a quarter of those surveyed said their credit union offers a loyalty rewards program and 47% of those say it is "valuable" or "extremely valuable." More than half say community involvement is "important" or "very important."

To obtain the complete Credit Union Satisfaction Index 2015 report, visit www.cfigroup.com.

About CFI Group (www.cfigroup.com)
Founded in 1988, CFI Group delivers customer experience measurement and business driver analysis from headquarters in Ann Arbor, Michigan and a network of offices worldwide. As founding partner of the American Customer Satisfaction Index (ACSI), CFI Group is the only company licensed to apply ACSI methodology in both the private and public sectors within the United States. Using patented technology and top research experts, CFI Group helps companies maximize return-on-investment by analyzing every aspect of the customer experience, identifying key business drivers, benchmarking performance, interpreting results, and recommending key areas for business improvement.

Media Contact:

Rich Rezler
Rezler Communications for CFI Group
Email
(734) 358-1910

SOURCE CFI Group