Consumers trust credit unions

Credit unions rank No. 2 nationally for customer advocacy

Consumers rank credit unions as better customer advocates than any other bank or securities firm, an independent research company has found.

Forrester Research Inc. last month said that credit unions, as a group, were the second-best advocate for customers in the United States behind only USAA, an insurer. Credit unions ranked higher in customer advocacy than all other banks, securities firms, and insurance companies.

Forrester's ranking of 32 leading U.S. financial services firms is based on a survey of about 5,000 consumers. Others near the top of the ranking were AAA, State Farm, Vanguard, and Edward Jones.

Read the complete Forrester press release here.

Forrester defines customer advocacy as "the perception on the part of consumers that their financial services firm does what's best for its customers, not just the firm's own bottom line." Customer advocacy is "the strongest indicator of future purchase intent," Forrester officials say.

Forrester is an independent technology and market research company based in Cambridge, Mass.
STCU