When it comes to which financial institutions are safer, respondents to a new CUNA survey have steadily chose credit unions over banks.
That’s according to the 2012 CUNA National Voter Survey, which drew responses from 1,000 randomly selected registered voters in locations throughout the country, according to the trade group.
Forty percent of respondents said credit unions have a better reputation for safety and soundness compared to 34% of those polled who chose banks. In the last voter survey in 2009, credit unions were nearly tied with banks at 37% and 36%, respectively. The gap was even wider in the 2004 survey when 49% of voters said banks had a stronger safety and soundness reputation compared to 25% who chose credit unions.
In the latest survey, credit unions and banks were even at 43% when respondents were asked what form of financial institution was the best place for day-to-day checking and savings accounts. Ten percent of respondents chose both.
In 2004, banks, at 59%, had a 29-percentage-point lead over credit unions at 30%. Seven percent voted for both credit unions and banks. Those figures dropped to 52% for banks, 33% for credit unions, and 11% for both in 2009.