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Roy Morgan results show clear leader in customer service

Date: 20/11/2023

Description:

Consumer research has revealed Australia’s customer owned financial institutions will end 2012 in a dominant position on customer satisfaction, compared to their big bank rivals.

Credit unions, mutual banks and building societies have recorded outstanding customer satisfaction results, according to data from Roy Morgan Research.

The latest data continues to shows a considerable gap between customer owned institutions and the major banks.

The Roy Morgan analysis found that for Main Financial Institution, the ‘Mutual Sector’ (92.1%), and ‘Mutual Banks’ (93.2%) outperform the ‘Major Four Banks’ (80.3%).

Industry body Abacus today said the consistently high results throughout 2012 show Australian consumers continue to recognise and respond to great customer service.

"Australians have given us a big tick for not only taking on the majors but delivering a customer driven banking alternative," Abacus CEO Louise Petschler said.

"For us customer satisfaction is a key performance measure, one we take seriously and never take for granted.

"Time after time our competitors can’t get close to us on this important indicator."

Abacus today pointed out the strong fundamentals, diversity and choice offered by more than 100 member institutions across Australia.

"There’s a credit union, building society or mutual bank for everyone," Ms Petschler added.

"With around $85 billion in assets, high ATM accessibility across Australia, a loyal base of 4.5 million customers and a focus on supporting people reach their financial goals; our industry presents an attractive value proposition."




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