St. Mary’s Bank was ranked the top credit union in New Hampshire in a recent independent survey conducted by Forbes Magazine to determine America’s best-in-state banks and credit unions. More than 25,000 people participated in the nationwide survey about banking relationships, scoring their current and past financial institutions on overall recommendation, satisfaction and trust, among other criteria.
“It is a remarkable honor to be awarded ‘best-in-state’ credit union in a survey of this magnitude,” said Ron Covey, president and CEO of St. Mary’s Bank. “That our member satisfaction level is so high speaks to the success of our longstanding approach of putting members first in all we do.”
This is the second time Forbes has worked with market research firm Statista to rank America’s best-in-state banks and credit unions. To achieve “best-in-state” designation like St. Mary’s Bank, financial institutions had to meet stringent conditions. Only 3.3 percent of the United States’ 5,492 credit unions received a best-in-state award, according to Forbes.
In an article publicizing the results of the survey, Forbes also noted that credit unions in general had the highest ratings when it came to customer satisfaction. “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,” Forbes reported.
“When you are a member of a credit union like St. Mary’s Bank, every decision is made with your financial well being at the forefront,” says Covey. “We are member-owned and not-for-profit, so everything goes back to you.”