When it comes to financing, fees and account managers, Canada'scredit unions do a better job of meeting the needs of smallbusinesses compared to banks, according to a new report.

The Canadian Federation of Independent Business surveyed nearly13,000 small business owners and found that credit unions achieved thehighest overall score of 7.4 out of 10.

The greatest strengths were in financing with a score of 6.0,7.5 for fees and 7.2 for account managers.

Credit unions were also better at serving micro businesses, which was defined as those having fewer thanfive employees, according to the CFIB report Battle of the Banks. High marks were given foroffering clear bank statements, branch access and online bankingservice.

With an overall score of 7.4 out of 10, businesses with five to49 employees favored credit unions for financing, fees and accountmanagers but trailed banks in branch access and online bankingservice, the data showed.

Mid-sized businesses with 50 to 599 employees generated a scoreof 8.5 out of 10, favoring credit unions over banks in nearly allareas.

Meanwhile, Canada's largest banks fell short in several of theareas tracked with scores as low as 1.0 for fees. One exception wasTD Canada Trust, which scored a 9.0 for service, the reportsaid.

The CFIB looked at services at credit unions across Canada andsome of the country's largest banks including Bank of Montreal,Scotiabank, Royal Bank, TD Canada Trust, National Bank, HSBC, ATBFinancial and CIBC.

“Banks need to pay close attention to the report's findings ifthey are serious about serving the small business market,” saidDoug Bruce, CFIB vice president of research.

Dan Kelly, CFIB president/CEO reiterated that point, saying,“Access to affordable financing and banking services is essentialfor hard-working entrepreneurs, and it's clear that all of thebanks should do more to serve small-business clients.”