While a recent study shows that for the first time American consumers have rated service provided by credit unions below that provided by banks, one analyst believes it’s not yet a tipping point–but is certainly a “big red warning sign” indicating how consumer definitions around service are changing.
“One thing this new report tells us is that the big banks’ service is getting much better,” said Cornerstone Advisors Senior Director Sam Kilmer, who believes one reason the shift is occurring is banks are now spending less time on mergers.
As CUToday.info reported, for the first time in the history of the American Customer Satisfaction Index (ACSI), banks have been given a higher customer satisfaction score than credit unions. In the wake of this report, questions and issues around what’s taking place in member service at credit unions are being highlighted in a series by CUToday.info.
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