SAN FRANCISCO (5/22/14)--At a regional level, credit unions, not banks, consistently and overwhelmingly had all the features that consumers want in their financial institution, according to the latest Consumer Banking Index from NerdWallet.
The consumer finance website evaluated the 150 largest credit unions and the 150 largest banks in the country on seven key factors that it found consumers desire from their financial institutions:
Among its findings of the financial institutions that had all seven attributes:
"NerdWallet's Consumer Banking Index should serve as a reminder that not all financial institutions are equally suited to meet consumer needs," said NerdWallet Senior Analyst John Gower.
Regions were based roughly on the regulatory districts of the Federal Reserve and the National Credit Union Administration. Banks and credit unions may have crossed regions, and those with only an online presence or with a physical presence in at least half of all U.S. states were included in the national category.