VIENNA, Va.--(BUSINESS WIRE)--Navy Federal Credit Union customer satisfaction tops banks and credit union industry averages, according to the 2016 American Customer Satisfaction Index (ACSI) Finance and Insurance report.
Compared to credit unions, banks and other financial institutions measured by the 2016 ACSI, Navy Federal scored an 89 on a 100-point scale for overall member satisfaction. The credit union and bank industry averages were 82 and 80, respectively. Members ranked Navy Federal the highest for quality and value, and reported the fewest number of complaints.
“Helping members is what we do – whether it be with an auto loan, mortgage or exceptional service at one of our worldwide branches,” said Cutler Dawson, President/CEO of Navy Federal. “Part of our success is listening to our members and using that feedback to provide the best member experience possible.”
“Credit unions typically offer more personalized service and that is reflected in Navy Federal’s outstanding customer satisfaction score,” said David VanAmburg, managing director of the ACSI. “While this year’s report shows an overall increase in customer satisfaction in the financial sector, Navy Federal remains far above industry averages with services and products designed to meet their members’ unique needs.”
Navy Federal’s industry-leading ACSI score is just the latest recognition of the credit union’s focus on excellent member service. In July, Forrester Research ranked the credit union number one in customer experience for full-service banking.
About Navy Federal Credit Union
Navy Federal Credit Union is the world’s largest credit union with more than $78 billion in assets, 6 million members, 292 branches, and a workforce of over 14,000 employees worldwide. The credit union serves all Department of Defense and Coast Guard active duty, civilian and contractor personnel and their families. For additional information about Navy Federal, visit www.navyfederal.org/.
The American Customer Satisfaction Index (ACSI) is a national economic indicator of customer evaluations of the quality of products and services available to household consumers in the United States. The ACSI uses data from interviews with roughly 70,000 customers annually as inputs to an econometric model for analyzing customer satisfaction with more than 300 companies in 43 industries.
ACSI and its logo are Registered Marks of the University of Michigan, licensed worldwide exclusively to American Customer Satisfaction Index LLC with the right to sublicense.