American consumers are far more likely to recommend a credit union than most of the nation's big banks, according to a new report from Forrester Research.
The research and advisory firm said 73% of the 4,600 respondents in its latest North American Technographics Customer Experience Online Survey said they would be likely to recommend a credit union, 29% above the industry average for banks.
By contrast, only 24% said they would recommend Bank of America and only 27% felt that way about Washington Mutual or CitiBank, the survey taken in late 2009 found.
SunTrust Bank also was well above the industry average, at 71% considered likely to recommend, Forrester said. Wachovia Bank came in at 52% and U.S. Bancorp at 51%.
Retailers overall led the survey at 71% likely to recommend, Forrester said, with Barnes & Noble leading the way with 86% likely to recommend.