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Tele-Depths / Surveys News 1/7/12

Big banks lag in customer poll

Credit unions rated highest

 

Small banks and credit unions are leading the quest for customer satisfaction in the Northeast, with big lenders such as Bank of America lagging well behind, according to a recently released poll.

The poll, which included many banks with a presence in Delaware, gave credit unions an overall rating of 79 out of 100, far ahead of the overall bank average of 59 percent. Smaller banks — those with fewer than 100 branches — scored an average of 75 percent, according to the study by the Prime Performance research firm.

Some of the big banks didn’t do as well in the 2011 Northeast U.S. Bank & Credit Union Customer Experience Survey. While PNC ranked highest among the major banks with a score of 70 percent, and Delaware newcomer M&T Bank was next at 67 percent, Wells Fargo and Sovereign Bank came in at 44 percent, and HSBC had a rating of just 43 percent.

The average in the Northeast is 61 percent.

The survey asked customers to grade banks according to four measures: satisfaction with service; likely to recommend; likely to come to the bank first for additional products or services; and how effective that bank is at meeting financial needs.

Delaware customers were not part of the poll, but it did include residents of Pennsylvania and New Jersey. The ratings are based on the net score, which is the percentage of positive responses minus the percentage of negative responses.

PNC was the top-ranked bank in three of the four questions that make up the score: overall satisfaction with service, likely to recommend, and likely to come to the bank first for additional products or services. M&T Bank was rated the most effective at meeting customers’ financial needs.

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