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Canadian credit unions receive record nine awards, including coveted Customer Service Excellence Award from IPSOS for 11th year running

TORONTO, Aug. 31, 2015 (GLOBE NEWSWIRE) -- Among all financial institutions, Canadians ranked credit unions first in overall Customer Service Excellence and Branch Service Excellence for the 11th consecutive year. Credit unions were also awarded sole honours for the Values My Business award for the eighth year in a row. In total, Canada's credit unions received a record number of nine awards through the annual 2015 Ipsos® Best Banking Awards.

In total, Canadian credit unions were awarded nine awards in the following categories:

  1. First for Customer Service Excellence (11th consecutive year);
  2. First for Branch Service Excellence (11th consecutive year);
  3. First for Values My Business (eighth consecutive year);
  4. Winner (tied) for Products & Services Excellence;
  5. Winner (tied) for Financial Planning and Advice (eighth consecutive year);
  6. Winner (tied) for ATM Banking Excellence;
  7. Winner (tied) for Online Banking Excellence;
  8. Winner (tied) for Live Agent Telephone Banking Excellence (third consecutive year); and
  9. Winner (tied) for Automated Telephone Banking Excellence; (third consecutive year [note: prior to 2013 there was a single Award for total Telephone Banking, which the credit union system shared each year from 2008 to 2012]).

QUOTES:

"While a lot of organizations talk about putting their customers first, credit unions have a long and distinguished history of providing an ongoing and meaningful commitment to customer service, along with continued fiscal responsibility. These awards are a testament to this approach to doing business – and we want to extend our thanks to all of our members who rated us," explained Martha Durdin, president and CEO, Credit Union Central of Canada.

"Canadian credit unions remain unique in the ways that they conduct business and serve their customers (members). This is reflected in the very core of daily operations through social responsibility and community outreach programs – and resulted in making credit unions what they are today; the cornerstones of community strength," added Ms. Durdin.

Ipsos 2015 Best Banking Awards are based on ongoing quarterly Customer Service Index (CSI) survey results. Sample size for the total 2015 CSI program year ended with the August 2015 survey wave was 45,391 completed surveys yielding 65,991 financial institution ratings nationally.

Awards Criteria

  • Where more than one financial institution shares an Award, it indicates that there was no statistically significant difference between the eligible FI with the highest score and that of one or more other eligible FI's for the relevant Awards category; based on top box results stat tested at the 95% confidence level.
  • Awards sample size requirement: Minimum total unweighted institution count of 400 per financial institution per Awards category.

CSI Methodology & 2015 Survey Description

Ipsos 2015 Best Banking Awards are based on ongoing quarterly Customer Service Index (CSI) survey results. The sample source for CSI is from the Ipsos Online Global Opinion Panel for Canada, using online data collection. Sample size for the total 2015 CSI program year ended August 2015 was 45,391 completed surveys yielding 65,991 financial institution ratings nationally. The sample is representative of the general household population based on Statistics Canada census data.

For CSI, panel members rate their own specific primary and secondary (where applicable) financial institution on a series of statements dealing with all aspects of personal banking. Respondents rate their experience in dealing with their specific financial institution(s) based on detailed questions related to each retail banking channel/touchpoint; including in-branch, online, mobile, ATM as well as live and automated telephone banking.

About Credit Union Central of Canada (CUCC)


Credit Union Central of Canada is the national trade association for the Canadian credit union system. Canada's credit union system is a vital competitor in the financial services industry. CUCC represents five provincial/regional Centrals and one Federation representing 303 credit unions with more than $177.7 billion in assets and serving over 5.35 million members, outside of Quebec. For more information about Canada's credit union system visit www.cucentral.ca.

About Ipsos


Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.

With offices in 87 countries, Ipsos delivers insightful expertise across five research specializations: brand, advertising and media, customer loyalty, marketing, public affairs research, and survey management. Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe. Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,669.5 ($2,218.4 million) in 2014.

Visit www.ipsos.com to learn more about Ipsos' offerings and capabilities.

CONTACT: Janet Gibson Eichner 416-232-3458 gibson-eichnerj@cucentral.com

Source: Credit Union Central ofCanada