Summary Report. Northeast US Bank & Credit Union Customer Experience Rankings Prime Performance 2011 Northeast US Bank & Credit Union Survey

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1 Northeast US Bank & Credit Union Customer Experience Rankings Prime Performance 2011 Northeast US Bank & Credit Union Survey Summary Report Download the Free Full Report at Jim S Miller President, Prime Performance

2 Overall Customer Experience Ranking: Prime Experience Index (PXI)* Rank PNC Bank: 1 M&T Bank: 2 70% TD Bank: 3 Capital One: 4 Citizens Bank: 5 Chase: 6 Citibank: 7 Bank of America: 8 Wells Fargo: 9 Sovereign Bank: 10 HSBC Bank: 11 62% 58% 5 50% Northeast Average 61% Credit Unions Small Banks Other Banks All Banks Other Banks does not include named banks. Small Banks are banks with less than 100 branches and Other Banks have 100 or more branches. Branch count is based on the total number of branches in the U.S. To learn more about the PXI, visit 2

3 Overall Satisfaction With Service Net Score* PNC Bank: 8 M&T Bank: 82% 1% 8 8 TD Bank: 7 1% 7 Citizens Bank: 70% Capital One: 6 Chase: Citibank: 62% HSBC Bank: 61% Sovereign Bank: 61% Bank of America: 60% Wells Fargo: % Northeast Average: 7 78% Credit Unions: 88% Small Banks: 8 Other Banks: 80% All Banks: 72% 1% 1% 90% % Negative Responses (% Dissatisfied) % Positive Responses (% Satisfied) Net Score: % of Positive Responses (6&7) Minus % of Negative Responses (1,2&3) 3

4 Likely to Recommend Net Score* PNC Bank: 71% M&T Bank: 6 TD Bank: 6 Capital One: 58% Chase: Citizens Bank: 5 Citibank: 4 Bank of America: 4 Wells Fargo: 4 Sovereign Bank: 4 11% % 61% 6 5 HSBC Bank: % Northeast Average: 62% 6 Credit Unions: 81% Small Banks: 7 Other Banks: All Banks: 5 8% 8 80% 7 % Negative Responses (% Unlikely) % Positive Responses (% Likely) Net Score: % of Positive Responses (6&7) Minus % of Negative Responses (1,2&3) 4

5 Likely to Come to the Bank First For Additional Products or Services Net Score* PNC Bank: 6 M&T Bank: Capital One: 5 TD Bank: 52% Citizens Bank: 4 Citibank: 48% Chase: 4 Wells Fargo: 3 Bank of America: 3 HSBC Bank: 31% Sovereign Bank: 31% 8% % 68% 6 60% 61% % % Northeast Average: 5 62% Credit Unions: 7 Small Banks: Other Banks: 5 All Banks: 51% 7 72% 68% 60% % Negative Responses (% Unlikely) % Positive Responses (% Likely) Net Score: % of Positive Responses (6&7) Minus % of Negative Responses (1,2&3) 5

6 Effective at Meeting Your Financial Needs Net Score* M&T Bank: 6 PNC Bank: 6 TD Bank: Capital One: 5 Citizens Bank: 50% HSBC Bank: 4 Chase: 4 Citibank: 42% Bank of America: 41% Sovereign Bank: 40% Wells Fargo: 3 8% % 52% 51% 52% 51% Northeast Average: 62% Credit Unions: 7 Small Banks: 70% Other Banks: 60% All Banks: % % Negative Responses (% Not Effective) % Positive Responses (% Effective) Net Score: % of Positive Responses (6&7) Minus % of Negative Responses (1,2&3) 6

7 Doing What is in Your Best Interest Net Score* M&T Bank: 5 PNC Bank: 52% Capital One: 50% 5 58% 5 TD Bank: 4 Citizens Bank: 3 Sovereign Bank: 3 Chase: 3 Citibank: 31% HSBC Bank: 30% Wells Fargo: 2 Bank of America: 2 11% % % 41% 41% Northeast Average: 4 Credit Unions: 72% Small Banks: 6 Other Banks: All Banks: 4 2% % Negative Responses % Positive Responses Net Score: % of Positive Responses (6&7) Minus % of Negative Responses (1,2&3) 7

8 Percent of Customers with Problems or Complaints in the Last 12 Months PNC Bank M&T Bank 1 1 TD Bank 1 Sovereign Bank Capital One Citizens Bank Chase HSBC Bank Bank of America Citibank Wells Fargo 2 30% 31% 31% Northeast Average 22% Credit Unions Small Banks Other Banks All Banks % 2 % Had Problems/Complaints 8

9 Table of Contents of Full Report Page 2 Table of Contents 3 Overall Customer Experience Ranking: Prime Experience Index (PXI) 4 Overall Satisfaction with Service 5 Likely to Recommned 6 Likely to Come to the Bank First For Additional Products or Services 7 Effective at Meeting Your Financial Needs 8 Doing What is in Your Best Interest 9 Making it Easy to do Business 10 Providing Friendly Service 11 Satisfaction with Range of Products and Services 12 Offers Competive Rates 13 Has Competitive Fees 14 Responsive to Your Problems or Concerns 15 Promptly Resolves Your Problems or Addresses Your Concerns 16 Representatives are Knowledgeable About Products and Services 17 Representatives Offer Quality Financial Advice 18 Representatives Have the Expertise to Handle Your Financial Nees 19 Satisfaction with Branches 20 Satisfaction with Phone Representatives 21 Satisfaction with Automated Phone System (IVR) 22 Satisfaction with ATMs 23 Satisfaction with Internet Banking 24 Satisfaction with Mobile Banking 25 Percent of Customers with Problems or Complaints in the Last 12 Months 26 Methodology 26 About Prime Performance 26 About the Author/Jim S Miller Download the Free Full Report at 9

10 Methodology DATA COLLECTION: August September 2011 METHOD: SAMPLE SIZE: SAMPLE: SCORING: BANK CATEGORIES: Online survey 4,869 adults living in the Northeast U.S. (Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont) with a banking relationship. A total of 4,869 interviews were conducted in the Northeast U.S. Sampling error cannot be calculated for surveys that use a self-selected online panel of respondents. If this sample had been conducted among a fully random sample, the estimated margin of error for sample would be ±1.1 percentage points at the 9 confidence level. Overall rank is based on the Prime Experience Index (PXI). The PXI is the average Net Score of four questions; overall satisfaction, likely to recommend, likely to come back for future financial products and services, and effective at meeting needs. For more on the PXI, visit Consumers selected responses along a seven-point scale. Positive responses are the percent of individuals selecting one of the top two boxes (6 or 7). Negative responses are the percent of individuals selecting one ofthebottomthreeboxes(1,2or3).thenetscoreisthepercentofpositiveresponsesminus the percent of negative responses. To be ranked, a bank or credit union needed a minimum of 100 surveys. Surveys for institutions with less than 100 surveys are not included in the individual bank rankings and are reported in the Small Banks, Other Banks or Credit Unions categories. Other Banks does not include named banks. Small Banks are banks with less than 100 branches and Other Banks have 100 or more branches. Branch count is based on the total number of branches in the U.S. About Prime Performance Prime Performance works exclusively with financial institutions to help reduce customer attrition, increase share of wallet, grow market share and improve profitability by developing and implementing a superior client experience. Since 1989, we ve been pioneers in measuring client satisfaction and converting that data into comprehensive, actionable plans for improving client experience. We know that service creates loyal clients. We also know that loyal clients are more profitable clients. How do we know this? Because we ve spent over 20 years talking to millions of people about what they want from their financial institution and what keeps them coming back. If you re looking to improve your firm s bottom line, let Prime Performance put this knowledge to work for you. About the Author Jim S Miller is the President of Prime Performance. Jim has worked for some of the nation s largest financial institutions, including SunTrust Bank, Bank One and NationsBank. Through senior roles in marketing, finance, market research, customer analytics, incentive management and retail administration, Jim has acquired a broad understanding of the many challenges faced by financial institutions. During Jim s 20+ years in the financial services industry Jim has had a unique view into how the actions of front-line employees affects the behavior of clients which ultimately drives an organization s bottom line. It is his personal mission to empower financial institutions to realize their full potential.by improving their client experience. Jim majored in Finance at The College of William and Mary and earned his MBA from The University of Virginia s Darden Graduate School of Business Administration. Jim now calls Boulder, CO home. To learn how we can assist you, contact: Jim S Miller (800) jim.miller@primeperformance.net 10