Credit union social media sentiment analysis

Looking at consumer sentiment towards credit unions, through the lens of social media and online conversations

An analysis of online conversations about financial institutions shows that passion for credit unions is waning slightly, but not enough to cause concern. In fact, credit unions are mostly maintaining ground they gained during the Great Recession, when consumers expressed more trust consumers in them than banks.

Using Crimson Hexagon, a tool that collects public posts from digital channels across the web, the IQ Agency has studied online conversations from 2008 through 2015 to identify trends in the way that people discuss banks and credit unions.

Toward the end of the Great Recession, the overall volume of credit union-related conversations increased year-over-year by more than 200%, but this pace has slowed significantly. Each of the past two years have shown only a 20% increase year-over-year in credit union conversation volume, the passion for credit unions is holding steady.

In 2010 there was a total of 252,000 mentions of credit unions online with 9% of those mentions being negative. Just a year later in 2011, total volume of mentions had increased to just under 500,000 with negative sentiment dropping a point. Interestingly though, as the economy stabilized, total volume dropped 14% and negative sentiment returned to 9%. And that is basically where the numbers stayed in 2013 and 2014.

continue reading »