WASHINGTON (12/9/14)--The American Bankers Association has launched a national ad campaign talking about service--an area in which credit unions far exceed them according to national surveys--intended to bolster banks' appeal to consumers.
Most recently, the American Customer Satisfaction Index (ACSI) reported that credit unions scored an 85--the seventh consecutive year atop the list--while the average bank scored a 76.
Additionally, credit unions are meeting--and exceeding--the high expectations their members have. For the past two years, member expectations have increased and credit union satisfaction scores have increased as well.
Not only are credit unions being ranked highly for consumer satisfaction, they also are found to be more trustworthy and to instill confidence.
In September, the Chicago Booth/Kellogg School FinancialTrust Index reported credit unions with a higher trust score than banks, with about 60% saying they find credit unions trustworthy, and only 30% say they trust big, national banks (News Now Sept. 3).
In 2013, a Gallup poll found that 74% of Americans had "some or very little confidence" in banks, while only 10% said they had a "great deal" of confidence.
The trade association for the nation's $15 trillion banking industry will run the "American Hometown Bankers" campaign through Dec. 21.
The television ads debuted on Sunday morning talk shows on ABC, CBS, CNN, Fox and NBC. During the week, the ads also will air on Bloomberg, CNBC, Fox Business and MSNBC.