Search

Norwich Credit Union welcomes report into customer satisfaction

PUBLISHED: 11:08 15 March 2018 | UPDATED: 11:42 15 March 2018

Jon Warne at Norwich Credit Union's offices in London Street. Photo: Archant.

Jon Warne at Norwich Credit Union's offices in London Street. Photo: Archant.

Archant

The president of Norwich Credit Union has welcomed a new report which suggests credit unions outrank banks for customer satisfaction.

The study by the Financial Inclusion Centre found more than four in five (81%) of credit union members were very satisfied with the service, and 84% would recommend it to friends and family. A recent Which? survey returned a satisfaction score of 68% from bank customers.

In the UK there are 442 credit unions, serving 1.5 million members with savings accounts and affordable loans.

Jon Warne, president of Norwich Credit Union, said: “This is great to hear and actually doesn’t surprise us. At least half of our current members joined on the strength of a personal recommendation from a family member, friend or colleague.”

The average loan value at NCU was between £1,000 and £1,500, he added.

The membership survey was carried out as part of the wider Barclays Credit Union Programme which will invest £1m over four years to support the expansion of the credit union sector to improve its effectiveness and sustainability, and reach more financially excluded households.

Most Read

Most Read

Latest from the Eastern Daily Press

Hot Jobs

Show Job Lists