Latest news with #CreditUnionSatisfactionStudy
Yahoo
07-05-2025
- Business
- Yahoo
Mountain America Credit Union Ranked Top Five Nationally by J.D. Power for Credit Union Member Satisfaction
Mountain America Credit Union Ranking reflects Mountain America's unwavering commitment to personalized service, member trust, and community-focused values SANDY, Utah, May 07, 2025 (GLOBE NEWSWIRE) -- Mountain America Credit Union ranks among the top five for member satisfaction among the nation's largest credit unions, according to the 2025 U.S. Credit Union Satisfaction Study by J.D. Power. It is the highest-rated credit union in Utah. Mountain America Credit Union Ranked Top Five Nationally by J.D. Power for Credit Union Member Satisfaction A Media Snippet accompanying this announcement is available in this link. The annual study, released last month, measures member satisfaction across six key factors: trust, people, account offerings, allowing customers to bank how and when they want, helping save time or money, and resolving problems or complaints. The survey, based on responses from thousands of credit union members nationwide, reflects consumer experiences with their financial institutions over the past year. 'This recognition is a direct reflection of our commitment to putting our members first,' said Sterling Nielsen, president and CEO at Mountain America Credit Union. 'Every decision we make is centered around how we can better serve our members, support their goals, and deliver the kind of personal, responsive service they deserve. Being named one of the top five credit unions in the country is an honor and motivates us to keep improving.' Mountain America serves more than 1,000,000 members throughout a five-state region with a full range of financial products and services, including savings and checking accounts, home and auto loans, and digital banking tools. J.D. Power's Credit Union Satisfaction Study is considered one of the most comprehensive benchmarks of member satisfaction in the industry. The study evaluates the top 29 largest credit unions and was based on feedback from 9,989 credit union members collected between January 2024 and January 2025. For more information about Mountain America visit About Mountain America Credit Union With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multi-state region; and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at CONTACT: Contact: publicrelations@
Yahoo
30-04-2025
- Business
- Yahoo
J.D. Power study: Customer satisfaction increasing at banks but more so at credit unions
Customer satisfaction scores are on the rise at banks, J.D. Power's latest study shows. Credit unions are, on average, showing higher customer satisfaction scores than at banks. But nearly one-third of credit union members under the age of 40 say they probably, or definitely, will close their account(s) at a credit union in the next 12 months due to fees they incurred. Customer satisfaction is up at banks and credit union members are even more satisfied, according to two newly released J.D. Power studies: The J.D. Power 2025 U.S. Retail Banking Satisfaction Study and the J.D. Power 2025 U.S. Credit Union Satisfaction Study. J.D. Power's banking study shows overall that customers are more satisfied with their banks. Satisfaction increased 11 points to 655 (out of 1,000 points), compared with last year's satisfaction study of 644. 'Retail banks have really upped their games when it comes to giving customers the resources they need to navigate a challenging economic environment,' says Jennifer White, senior director of banking and payments intelligence at J.D. Power in a news release. 'Those efforts include not only delivering on the basics of transactional efficiency and customer engagement but also undertaking more meaningful efforts to empower customers to understand and avoid unnecessary fees, resolve problems quickly and utilize additional personal financial management tools and supportive services,' White said in the press release. As for the J.D. Power Credit Union Satisfaction Study, it shows that credit union customers have a higher level of satisfaction with their credit union than bank customers have with their banks. Among the highlights from J.D. Power's 20th U.S. Retail Banking Satisfaction Study and J.D. Power's 2025 U.S. Credit Union Satisfaction Study: Banks improved their performance in key areas: A higher percentage, up four percentage points, of customers believe that their primary bank completely supports them during challenging times. Credit unions score higher for overall satisfaction on average than banks do: Credit unions scored 74 points higher than the average bank in their satisfaction scores. Bank customers are understanding fees more: Bank customers who completely understand their bank's fee structure increased 5 percent compared with J.D. Power's study the previous year. Areas where banks can improve: Debit cards, unauthorized account activity, fraud and interest rate earned on a deposit product are reasons why problem resolution satisfaction decreased. Almost one-third of credit union members under the age of 40 years old (31 percent) said they definitely, or probably will, end their relationship with their credit union due to fees charged during the upcoming 12 months. Generally, there are ways to avoid most fees at banks and credit unions. Here are some fees and how to potentially avoid them: Monthly service fees: There are online-only banks that offer accounts that don't have monthly service fees. There are also banks with free checking accounts, which allow you to waive monthly maintenance fees by having a certain amount of money credited to your account via direct deposit each month. Overdraft fees: Some banks don't charge overdraft fees. Those who have paid overdraft fees, which average $27.08 according to Bankrate's 2024 Checking Account and ATM Fee Study, should consider these banks. Consolidating the number of bank accounts you have, and keeping careful track of your transactions, can also help you avoid overdraft fees. ATM fees: Some banks have large ATM networks and some other banks reimburse some – or potentially all – fees for using out-of-network ATMs. Consider one of these banks to avoid paying fees for withdrawing your money from an ATM. Here are the best banks by state or region for banking satisfaction according to J.D. Power's recently released U.S. Retail Banking Satisfaction Study. California: Chase Florida: Fifth Third Bank and TD Bank (tied) Illinois: Wintrust Community Banks Lower Midwest Region: BancFirst Mid-Atlantic Region: Capital One New England Region: Bangor Savings Bank North Central Region: Centier Bank Northwest Region: Banner Bank New York Tri-State Region: Liberty Bank Pennsylvania: Chase South Central Region: Capital One Southeast Region: United Community Bank Southwest Region: FirstBank Texas: Frost Bank Upper Midwest Region: Gate City Bank SchoolsFirst Federal Credit Union Idaho Central Credit Union Navy Federal Credit Union Three ways that banks and credit unions can increase customer satisfaction include: Access to 24/7 customer service Properly staffed branches Leading-edge digital banking services with the latest technology Ultimately, bank customer satisfaction comes down to the quality of training that employees receive to assist you with your banking needs. According to Bankrate's latest Checking Account Survey, Americans have had their checking account at a bank or credit union for 19 years at an institution that has brick-and-mortar locations. If the time is now to find a new bank or credit union, choose wisely. Research the bank and its products to make sure it's a good fit for you. And while you're searching for your next financial institution, check to see if it offers a bank account bonus. Customer satisfaction increased significantly at banks, when compared to the previous year's survey, according to J.D. Power's recent U.S. Retail Banking Satisfaction Study, And, average overall satisfaction scores were much higher at credit unions when compared with banks. If the time is now to switch to a new bank or credit union, research and compare banks to find the best fit for your needs and preferences. Consider factors such as fees, interest rates, digital tools and customer service. 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