FARMINGTON HILLS, Mich., Oct. 15 /PRNewswire/ -- A new Morpace survey
shows that perception of banks varies depending on their size. However, all
banks share the same key opportunity for improvement in customer satisfaction
-- that is, helping customers achieve their financial goals.
Tim Taylor, Vice President, Financial Services, said, "Customers who feel
their bank helps them achieve their financial goals are more satisfied with
their bank. And 34 percent of credit union customers, 39 percent of regional
or local bank customers, and 47 percent of national bank customers are less
than satisfied with how their bank delivers in this area (ratings of 1-7 on a
10-point scale) -- resulting in significant room for improvement."
"In the current economic crisis, consumers of all ages are thinking more
about financial goals," Taylor added. "Our research suggests that any
financial institution, regardless of size, can increase customer satisfaction
levels by developing and promoting ways to help customers achieve their
financial goals."
The study also found that overall customer satisfaction tends to decrease
as bank size increases. That is, customers of national banks tend to be
significantly less satisfied than customers of regional or local banks who, in
turn, are less satisfied than customers of credit unions.
"Likewise," Taylor said, "consumer opinion of their banks' strengths and
weaknesses are directly related to size. National banks receive high ratings
for number of branches and ATMs, while local banks and credit unions are rated
lower in this area. Credit unions, however, are recognized for good customer
service, often cited as a weakness of larger banks."
The Morpace Omnibus study completed 1,171 interviews using an Internet
panel of adults aged 18 and older. The sample reflects the demographic profile
of the U.S. population, and carries a +/-3 percent margin of error.
About Morpace Inc.
Morpace is a full-service survey research and consulting organization
specializing in automotive, financial services, health care, retail and
technology. Morpace has global expertise in providing innovative proprietary
solutions to clients in four core areas: market definition and segmentation;
product development and pricing; brand and image positioning; and customer
satisfaction and loyalty.
Established in 1941, Morpace Inc., an ISO 9001:2000 certified
organization, is one of the largest privately held marketing research firms in
the United States. Headquartered in Farmington Hills, Michigan the company has
offices in Irvine, California; New York City; and London, England.
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