NEW YORK--Credit unions continue to be rated highly by consumers when it comes to trustworthiness.
A new Harris Poll found that nearly half of respondents said their trust in credit unions has remained consistent over the past few years, while 25% said they trusted credit unions more. The same poll found that 50% of consumers reported having less trust in banks, and 57% said their trust in Wall Street had decreased.
Among the other findings in the Harris Poll:
- CUs are most trusted by people 69-and-over (85%) and by baby boomers (83%). But regardless of age, respondents rated credit unions above regional banks, local branches of big national banks, big national banks and online-only banks.
- 66% said its personal experience that drives the level of trust with financial institutions, which aligns with the member-focused service that credit unions pride themselves on.
- One-third of those polled said they were CU members.
- Only 10% of respondents indicated they use an online-only bank.
The Harris Poll surveyed 2,537 U.S. adults online between Aug. 13 and 18.