For the seventh consecutive year, Canadians ranked credit unions first in overall customer service excellence among all financial institutions, surpassing all Canadian banks in Synovate Canada's annual Best Banking Awards.
Credit unions also took sole honours in two other categories: "Values My Business" and "Branch Service Excellence" and tied for first in two others: "Financial Planning and Advice" and "Telephone Banking Excellence".
Responding to the news, David Phillips, president and CEO of Credit Union Central of Canada said: "This announcement reaffirms what we have always known to be true: while innovative ideas, products and services are an integral component of our co-operative system, Canadian credit unions and caisses populaires never lose sight of what is most important – our dedication to our customers."
Launched in 1987, the Synovate Customer Service Index (CSI) quarterly survey generates the winners of the annual Best Banking Awards. The 2011 Best Banking Awards are based on the combined results of ongoing quarterly CSI surveys ending August 2011. Over 40,000 household responses were received among a regionally and demographically representative sample of Canadians.