2013 Bank And Credit Union Customer Satisfaction: A Measure Of Satisfaction Or Sentiment?

satisfactionACSI releases its 2013 customer satisfaction scores for the financial services industry today. A sneak peek at the numbers gave me a few days lead time to look into this year’s results. There may be a few surprises for industry insiders, but creditunionistas can rest easy: Credit unions continue to outscore banks on customer satisfaction.

The Strategic Planning Problem

There’s plenty of good advice out there on how to run a strategic planning session or offsite. As it pertains to credit unions, check out Mark Arnold’s blog or CU Insight. Mark encourages CUs to address questions about the organization’s value proposition and how it engages members. The CU Insight article, penned by CUES’ Charles…

Knock Somebody Off The Pedestal

In a recent industry analyst meeting, the CEO of a large financial technology firm laid out his firm’s vision for expanding into new markets within the financial services space. I asked him “Who do you see as your primary competitors standing in the way of your quest for world dominance?” His answer (as best as…

Credit Unions: Reinvent P2P Lending

Some university professors recently researched the effect of personal relationships on P2P lending platforms. They discovered three “effects”: Pipe effect. Friends of a borrower, especially close and off-line friends, act as financial “pipes” by lending money to the borrower. Social herding effect. When friends of a potential lender, especially close friends, place a bid, a “social herding”…