Voters Would Back Credit Unions in Political Fight with Banks, CUNA Survey Says
More voters would back credit unions over banks in a legislative fight and almost 80% of voters have a favorable opinion of credit unions.
Those are some of the results of a national survey of 1,000 registered voters released today by CUNA.
The poll showed that 50% of the respondents would back credit unions in a legislative fight, while 39% would back banks. The same survey found that 79% of respondents had a favorable opinion of credit unions and 74% of respondents thought favorably of banks.
When pollsters asked 500 of the respondents a generic question about whether they agreed with banks' opposition for raising the cap on member business loans or credit unions' support of the measure 63% said they agreed with the credit union position and 27% sided with the banks. But when they asked the other 500 respondents a similar question, but mentioned that many banks had taken TARP money and were paying large bonuses to executives, the credit union position received the support of 69% of the respondents, while the banks were backed by 20%.
"Credit unions have never been better positioned in the eyes of the public," CUNA Senior Vice President for Political Affairs Richard Gose said in an interview. "There is strong evidence to back up the recent trends showing credit unions benefitting from the flight to safety."
The survey also showed that 61% of respondents said the country was on the wrong track and 28% said it was on the wrong track.
CUNA has commissioned this survey annually for the past 11 years. The margin of error is plus or minus 3%.