Customer Effort, Member Experience, and Credit Union Digital Transformation

The American Customer Satisfaction Index (ACSI) is an annual survey conducted by the University of Michigan’s Ross School of Business. It measures consumer satisfaction with the goods and services provided across a broad range of industries.

This last year, the survey found that banks surpassed credit unions in customer satisfaction.

While it certainly doesn’t sound the death knell for credit union claims of better member experience, it raises some interesting questions—and serious concerns. And, in many ways, it reminds us that digital transformation is still a pressing need in the financial realm.

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