Customers claim they are more satisfied with their interactions with bank and credit union call center representatives than in 2010 according to the 2011 Prime Performance Customer Experience with Call Center Representatives Survey. The results from this survey of 1,979 U.S. bank and credit union customers who recently spoke with a call center representative show customer satisfaction is increasing. Satisfaction remains highest at credit unions and small banks although large banks are showing significant improvement. The report issued today analyzes results for credit unions, small banks, large banks and mega banks, including Chase, Bank of America and Wells Fargo.
Based on a recent interaction with a call center representative, credit union members rate their overall satisfaction a net score of 83 percent. The comparable score for small banks (banks with less than 300 branches) is 79 percent. The industry average is 70 percent. Falling below that are: large banks (300 to 4,000 branches), 66 percent; Chase, 62 percent; Wells Fargo, 61 percent; and Bank of America, 56 percent.
A net satisfaction score is the percent of satisfied customers minus the percent of dissatisfied ones. A score of 100 percent is perfect.
The industry average net satisfaction score increased 3 percent over 2010. Large banks experienced the greatest increase at 5 percent, followed by small banks, 4 percent and credit unions, 2 percent. The net score at Bank of America and Wells Fargo both dropped by 2 percent and Chase experienced a drop of 1 percent.
Satisfaction increased the most among Gen X customers (born between 1965 and 1980), up 7 percent, followed by Gen Y (born after 1980), up 5 percent; while satisfaction among boomers and older customers (born before 1965) remained flat. The greatest increase in satisfaction was with customers earning over $100,000 per year, improving by 8 percent over 2010.
These findings and others come from the Prime Performance 2011 Bank and Credit Union Satisfaction Survey. This survey was conducted in August and September 2011 with more than 8,000 customers who had recently been assisted by a representative at a credit union, small bank, large bank or one of the three mega-banks – Bank of America, Chase and Wells Fargo.
In face to face interactions, customers are more satisfied with the service they receive in all bank categories. On the phone, satisfaction with service is up for credit unions, small banks and large banks, but not for the three mega-banks; Bank of America, Chase and Wells Fargo.
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