Credit unions top banks in customer experience while PNC ranks highest among major banks according to the 2011 Northeast U.S. Bank & Credit Union Customer Experience Survey released by Prime Performance, which advises banks on improving the client experience. The study, based on a survey of 4,934 bank and credit union customers in the Northeast U.S. (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont), shows results for eleven major banks, including: Bank of America, Capital One, Chase, Citibank, Citizens Bank, HSBC Bank, M&T Bank, PNC Bank, Sovereign Bank, TD Bank and Wells Fargo.
Credit unions are the overall customer experience leader with a Prime Experience Index (PXI) of 79%, well ahead of the overall bank average of 59%, with small banks, those with less than 100 branches, scoring 75%. Among large banks in the region, PNC ranks first with a PXI of 70%, followed by M&T at 67%. The lowest scoring banks are Wells Fargo and Sovereign Bank, both at 44%, and HSBC at 43%. The Northeast average score is 61%.