People believe credit unions care more about their customers than banks do, but banks are still getting their business, possibly due to widespread perceptions that credit unions have skimpy offerings, according to new data from Harris Poll.
The study, commissioned by Basking Ridge, New Jersey-based Affinity Federal Credit Union, surveyed more than 2,000 U.S. adults online from February 27 to March 1 of this year. It found that 61% of consumers think credit unions care more about members than banks do, but only 16% of consumers actually use a federal credit union as their primary financial institution.
The study also found that fewer than half of Americans (42%) think credit unions offer mortgages, and only 45% believe credit unions offer mobile or online banking. About a third (29%) said it's hard to find a credit union they're eligible to join. Overall, nearly half of the respondents said they think banks offer more products and services than credit unions.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
