CUs rate high in Consumer Reports’ survey of more than 72,000 members

A recent survey released by Consumer Reports shows that of 72,000 members polled last summer, those with accounts at credit unions and online-only banks were most satisfied. The data was based on such details as customer service, wait times to see a teller, how easy it is to use the bank’s website and mobile app, […]

A recent survey released by Consumer Reports shows that of 72,000 members polled last summer, those with accounts at credit unions and online-only banks were most satisfied. The data was based on such details as customer service, wait times to see a teller, how easy it is to use the bank’s website and mobile app, and the convenience of hours and locations.

Overall, our members relied more on credit unions than banks for savings accounts, credit cards issued by the financial institution, loans, CDs, and mortgages.

“One reason is that credit unions generally charge lower interest rates on loans,” the article said. “For example, credit unions were charging 2.79 percent on average on a 48-month new-car loan in the fourth quarter of 2017, while banks were charging 4.64 percent, according to the National Credit Union Association, using data from S&P Global Market Intelligence.”

Read the full article here.

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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

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