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May 02, 2012
CUs score high in trust survey
May 2, 2012 – Credit unions scored high – beating out all institutions rated in the "banks" category, including USAA – in a relatively new survey on the level of trust consumers have with 206 large companies across 18 industries.
The survey, by the Temkin Group, asked consumers to rate how likely they are to trust companies to meet their needs on a seven-point scale, with seven showing the respondents "completely trust" the companies.
"A credit union," as rated within the bank category, drew a 75 percent trust rating, the highest for the category. USAA was second with a 73 percent trust rating. Following were PNC Bank, ING Direct, Fifth Third Bank, Sun Trust on down to the lowest-rated institution – Bank of America (23 percent).
This is the second year the group has issued a report on trust ratings. In 2011, credit unions were rated second to Regions Bank. USAA was third. Ratings overall were notably lower last year than in 2012 as well, with the top rating for any firm coming in at 69 percent.
This year, the highest rating was 78 percent. This rating went to USAA in the "insurance company" category.
The survey, by the Temkin Group, asked consumers to rate how likely they are to trust companies to meet their needs on a seven-point scale, with seven showing the respondents "completely trust" the companies.
"A credit union," as rated within the bank category, drew a 75 percent trust rating, the highest for the category. USAA was second with a 73 percent trust rating. Following were PNC Bank, ING Direct, Fifth Third Bank, Sun Trust on down to the lowest-rated institution – Bank of America (23 percent).
This is the second year the group has issued a report on trust ratings. In 2011, credit unions were rated second to Regions Bank. USAA was third. Ratings overall were notably lower last year than in 2012 as well, with the top rating for any firm coming in at 69 percent.
This year, the highest rating was 78 percent. This rating went to USAA in the "insurance company" category.
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