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Mutuals beat majors on satisfaction

by Staff Reporter7 minute read
The Adviser

Staff Reporter

Australia’s credit unions and mutuals are enjoying a strong start to the year, with new research revealing customers are ‘very satisfied’ with their lender.

According to new research by Roy Morgan, the mutual sector received a customer satisfaction rating of 92.5 per cent – higher than the major banks’ 80.7 per cent.

“We have a genuine partnership with our customers which is reflected in these market leading figures,” said Louise Petschler, chief executive of Abacus, thhe credit union and mutuals' peak body.

“Consumers want convenience, product choice and great value for money, a combination offered across our diverse industry representing more than 100 institutions.”

Ms Petschler said credit unions, building societies and mutual banks are committed again to delivering for customers in 2013.

“There’s a really strong message for Australian consumers looking for a better relationship with their bank and more value to stretch their household budget further,” she said.

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