A new survey of bank and credit union customers found that most people are happy with the level of service at their current financial institution, although half of respondents believe more staff is needed to respond to their needs. The report by software developer Engageware found that 78% of respondents were satisfied with their financial intuition. At the same time, only 43% said their bank or credit union had someone to speak to when they needed financial help, with half saying their institutions needed more staff.
Most consumers surveyed also expected the U.S. to enter a recession, and with that, they wanted their financial institutions to provide additional products and services beyond the “obvious” ones offered. Fifty-three percent said their institutions could provide support during a recession through lower fees, while equal numbers (39%) said that support could come through better rates or late-payment forgiveness. At the same time, 34% said they want their institutions to offer recession strategy planning, with 16% wanting one-on-one financial planning.