AL and FL credit unions shine on Forbes list

Consumers are well aware they have a wide choice of options in the financial institutions they choose for personal and professional use. That’s the sort of competition that encourages businesses to up their games in customer service and offerings, an area in which credit unions have always excelled. Forbes partnered with market research firm Statista to survey more than 25,000 people in the U.S. about their banking relationships for its second annual look at the Best-In-State Banks and Credit Unions.

The nationwide results saw credit unions outpace banks with 182 credit unions qualifying for the list as compared to 149 banks.

LSCU affiliated credit unions from Alabama that made the list are: Listerhill Credit Union, WinSouth Credit Union, and America’s First Federal Credit Union.

LSCU affiliated credit unions from Florida on the list are: Eglin Federal Credit Union, First Florida Credit Union, USF Federal Credit Union, Tyndall Credit Union, Grow Financial Federal Credit Union, Fairwinds Credit Union, Achieva Credit Union, and VyStar Credit Union.

According to Forbes, “Consumers were asked 20 questions about their financial dealings. The banks and credit unions were rated on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services and financial advice). Overall scores ranged from 57.2 to 96.2.

“Americans generally gave their banking institutions good reviews on satisfaction with scores of 4.2 on average on a scale of one to five. But banks can’t touch credit unions; they averaged 4.5.”

Read the full article here.