New Customer Rankings: CUs Only Financial Institution Rated Excellent
For the purposes of the report, published by the Temkin Group, credit unions were rated as a single financial institution.
The research, which is based on a survey of 10,000 U.S. consumers in January, includes 16 financial institutions. Four banks earned "good" ratings: PNC, TD Bank, USAA, and ING Direct. Eight banks received "okay" ratings, while three banks received "poor" ratings: Citibank, Bank of America and HSBC.
The banking industry received the fifth-highest average customer experience rating, falling behind grocery chains, fast food restaurants, retailers and parcel delivery services.
Compared with 2011, financial institutions increased their ratings by three percentage points, an improvement that was outdone only by insurance carriers and personal computer makers. Thirteen of the 16 banks improved their customer experience ratings between 2011 and 2012.
"Banks made some strides to improve customer experience this past year, but some big banks continue to fall behind," said Bruce Temkin, author of the report and managing partner of Temkin Group.