Monday, August 10, 2020

Forbes ranks top Idaho credit unions for customer service

By Catie Clark, Idaho Business Review

According to Forbes, the top five credit unions in Idaho for customer satisfaction range from small to large and local to multi-state. The youngest is a mere six and a half decades old. Only one is headquartered in the Treasure Valley while three are based out of Eastern Idaho. One is not even chartered in Idaho.

The rankings were issued during the last week of June by Forbes, one of the country’s three leading weekly business magazines. Forbes hired market research firm Statista to survey customer satisfaction across the country for both banks and credit unions. This is the third year that Forbes has ranked financial institutions that provide consumer banking services.

The survey sample size was more than 25,000 bank and credit union customers in all 50 states plus the District of Columbia. Customers were asked to rank their financial institutions on their overall recommendation, satisfaction, trust, terms and conditions, branch services, digital services and financial advice. Out of the country’s 5,236 credit unions, only 3.5% received rankings. Idaho has 45 credit unions registered with Idaho Department of Finance; one-ninth of these were included in the Forbes top five.

Starting with the highest-ranked, the top five Idaho credit unions in 2020 were: Connections Credit Union, Idaho Central Credit Union, Westmark Credit Union, CapEd Credit Union and Mountain American Credit Union.