League-affiliated credit unions recognized by Forbes' Best-In-State ranking
Tuesday, July 3, 2018
Seven League-affiliated credit unions have a new superlative to boast: Best-In-State Credit Union. Forbes partnered with market research firm Statista to get a first-ever look at the Best-In-State Banks and Credit Unions. More than 25,000 customers were surveyed on current and former banking relationships. Financial institutions were rated on overall recommendations and satisfaction, as well as five subdimensions: trust, terms and conditions, branch services, digital services, and financial advice.
In total, 124 banks and 145 credit unions made the final cut (2.4% of U.S. financial institutions). Credit unions outpaced banks with an average score of 80 versus 75.2 for banks and also beat banks in overall satisfaction ratings.
“Customers prefer credit unions because they themselves are the shareholders,” says Statista CEO Friedrich Schwandt. “This is somewhat in keeping with the motto ‘Small is beautiful.’"
See nationwide results in the graphic below.
This list comes at an opportune time to help position credit unions as the top-of-mind choice for consumers, as CUNA recently announced the “Open Your Eyes” awareness campaign will launch nationwide January 2019.
Credit unions top banks in new Forbes ratings (CUNA News)