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CU Satisfaction Grows Over Banks, but Not All Problems are Reported

The latest survey shows members who have short-term problems are less likely to use other CU products and services.

Study shows credit unions need to work on short-term problems for members (Image: Shutterstock).

While faring better than banks, some credit union members have long memories of short-term problems, and not all of those problems are reported, according to CFI Group’s 2018 year-end Credit Union Satisfaction Index

Credit unions have widened the gap over banks in Ann Arbor, Mich.-based CFI Group’s latest findings as measured against bank satisfaction. The CUSI – calculated based on feedback from a panel of 497 members who have a current financial relationship with a credit union – is 86, as measured on a 0-100 scale. Credit union satisfaction historically has run several points higher than its bank satisfaction barometer. Banks had closed the gap to 2 points in 2016, but the gap has widened again to 6 points in 2018.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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