It is good to be a credit union today.
New data shows that credit unions are not just substantially more popular than banks, but that credit unions are the most popular enterprises in all financial services.
According to the American Customer Satisfaction Index, credit unions enjoy an approval rating of 87 compared to a 75 for banks. All finance and insurance institutions scored an average satisfaction score of 76.2, which means consumers are more satisfied with credit unions than they are with health insurers, life insurers, or property & casualty insurers, too.
The study also found that there remains less satisfaction with larger banks than with other banks. Citigroup, Wells Fargo, JPMorgan Chase, and Bank of America all generated satisfaction indexes of 73 or less. BofA’s rating of 68 was at the bottom better only than Aetna’s among finance and insurance companies named in the study by the American Satisfaction Index, a research group. Meanwhile, “all other banks” generated an average satisfaction score of 79.