FERNDALE, MI – In its 2018 list of “The Best Banks And Credit Unions In Every State,” Forbes has identified Credit Union ONE as one of the top five credit unions in Michigan.
The Forbes “Best-In-State” ranking places Credit Union ONE among the top 2.4% of financial institutions nationwide based entirely on an independent consumer survey. Nationally, fewer than 270 financial institutions (124 banks and 145 credit unions) made the Forbes’ lists. To do so, they needed to score highest in consumer recommendations and satisfaction, plus five additional criteria: trust; terms and conditions; branch services; digital services; and financial advice.
“Credit Union ONE is honored to be named a Forbes 2018 ‘Best-In-State’ credit union,” says Credit Union ONE Board Chairman Paul W. Stuart. “Our team strives to exceed expectations when it comes to the member experience, and they work every day to connect members with products and services that fit their lives and help them reach their financial goals. It’s wonderful to have our member experience recognized as one of the best not only in Michigan but also in the nation. Our members trust us to meet their specific needs, and that relationship is first and foremost in everything we do.”
The Forbes’ survey, which it completed in partnership with market research firm Statista, evaluated a number of factors related to the member/customer experience. Overall on these measures, credit unions scored higher than banks with average scores of 80 versus 75.2. Statista CEO Friedrich Schwandt attributes this to credit union members’ pride of ownership. He says, “Customers prefer credit unions because they themselves are the shareholders. This is somewhat in keeping with the motto ‘Small is beautiful.’”
Credit Union ONE Board Chairman and owner of Ferndale’s Luxury Lanes, Paul W. Stuart (left), hands the Forbes “Best-In-State” Credit Union trophy to President and CEO, Gary Moody (right).
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About Credit Union ONE
Credit Union ONE is headquartered in Ferndale, Michigan. Organized in 1938 by five people with $51, the credit union now has approximately $1.2 billion in assets and provides its 125,0000 members with consumer banking services such as mortgages, credit cards, auto financing, and deposit products via digital platforms and 20 branches located in Southeast Michigan, Grand Rapids, and Traverse City. Through its affiliation with Hantz Financial Services, members have access to a comprehensive range of investment, insurance, estate/tax planning, and advisory services. Credit Union ONE also participates in the CO-OP Network providing members access to nearly 30,000 surcharge-fee ATMs and over 5,600 branches across the Unites States.