Winnipeg – As financial institutions compete throughout the province for Manitobans’ loyalty, credit unions appear to be doing a better job than banks of keeping their clients happy, a new Jory Capital-Probe Research Inc. survey of 1,001 Manitobans reveals. This survey also indicates that credit unions would win over a disproportionate number of “Big Five” bank customers if these individuals were to relocate their banking business.

Most Manitobans are satisfied with their financial institutions, although a larger proportion of credit union customers are very satisfied with their financial institution compared to those who deal with banks (74%, versus 64% respectively). Bank customers were more likely than credit union clients to express only muted levels of satisfaction with their financial institution (31% somewhat satisfied, versus 23% respectively). Very small numbers of Manitobans were dissatisfied with their financial institution (4%, including just 1% who were very dissatisfied).

Overall, a larger proportion of Manitobans would prefer to move to a credit union (45%, versus 37% who would take their account to a bank). Current credit union clients would be nearly three times as likely to open an account at a competing credit union rather than take their business to a bank (60%, versus 23% respectively) while bank clients are only slightly less likely to seek out a credit union rather than go to another bank (38%, versus 47% respectively).

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Labels: banks, credit unions, Jory Capital, Probe Research

Winnipeg – After a year of bank bailouts and financial catastrophe throughout the world, financial institutions may not inspire the level of confidence they once did. Here in Manitoba, however, most residents express continued faith in banks and credit unions despite the financial troubles that have challenged financial institutions elsewhere

A Winnipeg Free Press/Jory Capital survey of 1,000 Manitobans conducted by Probe Research finds that more than two-thirds of the province’s adults (68%) have the same level of confidence in banks as they did one year ago, with a similar proportion (66%) noting that their confidence in credit unions has remained unchanged during the past 12 months.

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Labels: banks, credit unions, economic confidence, Jory Capital, Probe Research