Author: Don Magin

Peter is why The Greater has better customer satisfaction than the major banks

In his monthly blog our CEO Don Magin says staff members such as Peter Marquet, who took out The Greater's major award for service, are one of the reasons why Roy Morgan's latest research is showing building societies have better customer satisfaction ratings than the major banks.

The latest research from Roy Morgan released on January 23 shows that mutual financial institutions (building societies, credit unions and mutual banks) are way out in front of the banks when it comes to customer service and customer satisfaction.

Roy Morgan Research’s survey found that the major banks had 78.4% satisfied where as building societies  and credit unions had 90.2% and 89.0% satisfaction ratings. The major banks' home loan customers’ satisfaction is only 72.9%. Meanwhile, Roy Morgan also said that satisfaction with the business customers of the big four banks also declined by 0.2% point in December to 64.3%

Our own independent research shows that we have a customer satisfaction rating of 95%.

These satisfaction figures reflect the fact that mutuals such as The Greater are owned by and exist for customers, whereas the big banks are owned by shareholders. They are a credit to our wonderful, customer focused staff.

Staff such as Rutherford branch manager Peter Marquet. Peter was deservedly awarded our annual Ian Nelmes Award for service last month.

We introduced this Award in honour of The Greater’s former long-serving Hunter-based director Ian Nelmes. Mr Nelmes dedicated 31 years of service to Greater customers and staff, including 22 as chairman. The award recognises performance in service and the contribution the person makes in demonstrating and promoting The Greater’s cultural values.

Peter has worked for us for more than 30 years. He gives his own time to represent The Greater within the community. He has just completed a two year term as a staff appointed director on the Greater Charitable Foundation and is involved with a number of local charities and causes.

Peter gives outstanding service to customers and to the community. This is how The Greater has always differentiated itself from the major banks. We spend a lot of time and resources on recruitment and training to support staff to give outstanding service. And we also recognise and reward our staff for excellent service.

What this means is that there’s a better deal waiting for you at The Greater. If you want better service, talk to Peter or one of his colleagues who will be delighted to help you with all your banking needs to help make your life Greater.

Please share your thoughts on customer service in banking. What do you consider to be good service?