Are you losing at service?

Your immediate answer is probably no. After all, community institutions are known for their service. Right?

Many consumers no longer think that’s the case.

During the pandemic, consumers prioritized digital banking to such an extent that 47% said they would switch institutions for better digital banking. Credit unions and community banks are perceived as lacking in this area, especially by younger age groups.

Outside of digital, service in general is suffering. Credit unions tied national banks on service scores in 2021 – a loss when you consider the commanding lead credit unions used to hold in this area.

 

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