Canadian Credit Unions Ranked FIRST in Customer Service For 8th Consecutive Year

Canadian Credit Unions’ Customer Service Surpasses All Canadian Financial Institutions

(Ipsos Best Banking Awards also reveals consistent strength of credit unions in many service categories)

For an eighth consecutive year, Canadians ranked credit unions first in overall Customer Service Excellence among all financial institutions in the 2012 Ipsos Best Banking Awards. Credit unions also took sole honours in two other categories: Branch Service Excellence and Values My Business.

“For over a hundred years, Canadian credit unions have met the personal and business financial needs of their members by focussing on what they believe is most important – putting their members’ needs first, and treating them as individuals,” explains David Phillips, President and CEO, Credit Union Central of Canada (Canadian Central). “While innovative ideas, products and services are an integral component of our co-operative system, Canadian credit unions and caisses populaires never lose sight of what is most important: our dedication to meeting the individual needs of our over 5 million members,” added Phillips.

Survey results show that credit unions took sole honours in Branch Service Excellence for the 8th year in a row and Values My Business for the 5th year in a row. They also tied for first place in the following categories among all financial institutions:

  • Financial Planning & Advice, and
  • Telephone Banking Excellence.

The above mentioned honours are the same five award categories credit unions were recognized for in 2010 and 2011.

“Since 1987, the Customer Service Index study results show that Canada’s financial institutions continue to provide high levels of service to their customers,” says Ray Kong, Senior Vice President and Global Financial Services Practice Leader at Ipsos Reid. “Our awards program recognizes best in class in several categories. I am happy to acknowledge and congratulate not only the winners of the 2012 Best Banking Awards but all financial institutions for their sustained performance.”

Launched in 1987, the Ipsos (formerly Synovate) Customer Service Index (CSI) quarterly survey generates the winners of the annual Best Banking Awards. The Ipsos 2012 Best Banking Awards are based on quarterly Customer Service Index (CSI) survey results. Sample size for the total 2012 CSI program year ended August 2012 was 43,202 completed surveys yielding 63,750 financial institution ratings.