Canadian Treasurer

August 24, 2012

Canadian credit unions ranked first in customer service for 8th consecutive year

TORONTO-- For an eighth consecutive year, Canadians ranked credit unions first in overall Customer Service Excellence among all financial institutions in the 2012 Ipsos Best Banking Awards. Credit unions also took sole honours in two other categories: Branch Service Excellence and Values My Business.

Survey results show that credit unions took sole honours in Branch Service Excellence for the eighth year in a row and Values My Business for the fifth year in a row. They also tied for first place in the Financial Planning and Advice Telephone Banking Excellence among all financial institutions.

The above mentioned honours are the same five award categories credit unions were recognized for in 2010 and 2011.

"For over a hundred years, Canadian credit unions have met the personal and business financial needs of their members by focusing on what they believe is most important ― putting their members' needs first, and treating them as individuals," explains David Phillips, president and CEO, Credit Union Central of Canada (Canadian Central), the national trade association for the Canadian credit union system. "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 meeting the individual needs of our over 5 million members," added Phillips.

"Since 1987, the Customer Service Index study results show that Canada's financial institutions continue to provide high levels of service to their customers," says Ray Kong, Senior Vice President and Global Financial Services Practice Leader at Ipsos Reid, an independent market research company. "Our awards program recognizes best in class in several categories. I am happy to acknowledge and congratulate not only the winners of the 2012 Best Banking Awards but all financial institutions for their sustained performance."

Launched in 1987, the Ipsos (formerly Synovate) Customer Service Index (CSI) quarterly survey generates the winners of the annual Best Banking Awards. The Ipsos 2012 Best Banking Awards are based on quarterly Customer Service Index (CSI) survey results. Sample size for the total 2012 CSI program year ended August 2012 was 43,202 completed surveys yielding 63,750 financial institution ratings.










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