Last week, Forrester came out with its annual Customer Advocacy rankings, rating nearly 50 financial service institutions in the U.S.
The key statement they ask is, “My financial service provider does what’s best for me, not just for its own bottom line.”
The largest banks in the country scored the lowest, including Bank of America , Chase, Capital One, TD/Commerce, Fifth Third, Citibank, and in last place, HSBC. For HSBC, only 16 percent of respondents agreed with the statement, as compared to 70 percent of credit union members.
Why the poor rankings for the big banks?