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Ten must-do’s to reverse the member satisfaction trend
9SHARES
There’s been a lot of recent discussion, and some serious angst, over the recently published industry satisfaction results from American Consumer Satisfaction Index (ACSI). It’s understandable if you’ve had other important matters on your plate and missed the “hot” news, so here’s a quick recap:
The 2020 ACSI results show that credit unions scored below banks for the second year in a row on overall consumer satisfaction – Banks = 78, CUs = 77 (100-point scale).
Further, the report shows a slow, steady erosion in credit union satisfaction over the past 10 years with scores declining since 2011 – CUs = 87, Banks = 75 (2011 scores).
Rising from a gut punch: Reclaiming the top spot for credit unions in consumer satisfaction
December 18, 2020 by Todd Clark, InsightVault Todd Clark, CEO of CO-OP Financial Services
On the heels of Thanksgiving, CUToday.info’s Frank Diekmann reported on a concerning trend. For the second year in a row, credit unions have been rated below banks for consumer satisfaction. Even more troubling, credit unions reached an historic low in the American Consumer Satisfaction Index (ACSI) survey.
I want to thank Frank for his column, which I think also indicates the commitment of our movement to search for answers and the passion we all share for reversing this trend. Truly, this news feels like a gut punch. Credit unions are doing so much on behalf of their members – perhaps never have they been more integral and essential to the financial wellbeing of their communities than in this extraordinary year.