Why study’s findings deserve CU attention

Are credit unions the frog in a slowly boiling pot of water when it comes to their attention to service?

One analyst believes that may just be the case following a recent study that shows credit union service has fallen below that of banks. It’s a study that offers some “fascinating”—if not concerning—findings that deserve attention by CUs, the same analyst said.

“I liken this to the frog in the pot of cold water and then you turn on the heat to get a very slow boil and the frog never realizes it’s boiling,” said Bill Handel, VP of research at Raddon. “Sometimes things happen at a slow enough pace that we say, ‘All right, this is something for us to watch but let’s not be concerned about it.’ But over a period of time it then becomes a serious concern.”

 

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