Credit Unions, Community Banks Outscore Large Banks in Customer Satisfaction

NEW YORK — Credit unions and community banks, with a few notable exceptions, outrank large banks in customer satisfaction and loyalty, a new survey found.

Informa Research Services Senior Vice President Paul Lubin noted that credit unions and smaller banks overall received high marks in customer service and loyalty. “Yet,” he added, “a few of the large banks are clearly leading the way in providing exemplary branch customer service. These notable exceptions among the largest banks are Washington Mutual, SunTrust and Wachovia, which outrank all except for community banks and credit unions.” The Informa Research Services survey also found that Citizens and Bank of America were also among the “Top-20 institutions that do well in garnering customer commitment.”