Jan. 22, 2013 – Findings from a new nationwide survey of employees provide yet more evidence that when it comes to the issue of trust, credit unions come out on top.
According to Prudential’s “Sharpening the Focus on Benefits Strategy” survey, released last week, 81 percent of employees said credit unions were a trustworthy source to help them safeguard their funds. That compares with 79 percent of respondents who indicated that benefit packages offered by their employers are a trustworthy source to grow and protect their money.
In survey after survey, credit unions continue to excel on the issue of trust. In the latest Chicago Booth/Kellogg School Financial Trust Index, which was released in November, credit unions continued to outperform banks in this area – 61 percent of respondents said they trust credit unions, compared with just 28 percent for national banks.
Prudential’s study also found that both employers and employees are less optimistic about their own financial outlooks. The survey found a decline in the number of employers who believe their financial position will improve in a year: 54 percent of employers said they believe their financial position would improve, down from 70 percent from the 2010 survey. For employees, just 38 percent said they believe their personal financial situation will improve, down from 44 percent.
The “Sharpening the Focus on Benefits Strategy” survey is part of the Prudential’s seventh annual survey of employee benefits.