Survey shows customers want ‘community’ banks

MEDIA RELEASE
Finsec
the fiance workers' union

29 November 2006
For immediate release

Survey shows customers want ‘community’ banks

The results of the Roy Morgan survey of bank customer satisfaction shows that a connection to the local community as well as competitive products and good service is the key to growth in customer numbers says Finsec, the bank workers’ union.

“The survey shows that banks need to perform across a range areas to grow customer numbers. Significantly the results indicate that mortgage pricing, and improvements in customer satisfaction need to be teamed with a commitment to local communities to achieve the best result for the banks,” said Andrew Campbell, Finsec Campaigns Director.

”"There is a growing groundswell of public consciousness that banks have an important role to play in their local communities. Those banks that customers perceive to be active and responsible participants in their local communities are receiving higher customer service rankings,” said Campbell.

“Kiwibank and TSB, with their perceived strong local ethos and commitment to small communities, are consistently outperforming banks that are seen as large corporates interested mostly in sending profits offshore,” said Campbell.

“Banks need to be more involved in New Zealand’s small local communities if they want to improve their customer service ratings. Customers value banks that they perceive as supporting their local communities through strong retail networks, more time and less pressure to sell, not just sponsoring large events and stadiums” said Campbell.

ENDS

© Scoop Media