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CUSI Study: Credit Union Members Satisfied with Branch Service
Friday, June 7, 2013 6:25 AM

Rest assured – credit unions are receiving high marks of satisfaction from their members. A recent Credit Union Times article highlighted the results of the 2013 Credit Union Satisfaction Index (CUSI), which is released annually by the technology/analytic firm CFI Group.

The study targeted 400 credit union members with a focus on six categories of member satisfaction. According to the CUSI, credit unions on average scored well above the 80 points satisfaction mark on a 100-point scale.   

The highest four categories impacting member satisfaction were online banking (92 points), branch staff (93 points), branch convenience (85 points) and information/communication (90 points). Members also gave products and services 89 points, and rates and fees 83.

The study found that credit union checking and savings accounts also played a significant role, with a penetration of 94 percent. However, individual retirement accounts, certificates of deposits and primary mortgages had very low penetration.

When asked why members joined their credit unions, the majority (23 percent) responded that their employers offered membership to their designated credit unions, while 20 percent followed the advice of a recommendation.