Heritage continues to satisfy with top results

Australia’s largest building society has once again outdone its competitors as Roy Morgan’s latest customer satisfaction research into Queensland banking institutions illustrates.

The research found that Heritage continues to be significantly ahead of its competitors when it comes to satisfying customers.

Roy Morgan’s results for Heritage members who regard the Society as their main financial institution (MFI satisfaction) revealed a 91.7% member satisfaction rating for the six months to May 2009, with the next best financial institution following at 84.7%.[1] Heritage CEO Mr John Minz said “our MFI satisfaction has risen by 0.2 percentage points since April 2009, peaking at its highest since October 2007. “

Meanwhile, Heritage recorded an overall customer satisfaction rating of 87.0% for the six months to May 2009, with the next best financial institution coming in at 83.8%.[2]

Mr Minz added, “the latest results reflect Heritage’s consistent commitment to its members in all facets of banking.”

Heritage’s overall customer satisfaction has increased by 0.6 percentage points since April 2009. These results are indicative of the competitive, low cost, service orientated banking alternative that we offer to those banking with Australia’s largest building society.”

In comparison, the average MFI satisfaction rating of the “Major 4” slipped to 72.4% this month, down 0.5 percentage points since April 2009.

“Since 1999 we have averaged a rating of more than 20 percentage points above the majors,” said Mr Minz.

“As a member-centric financial institution, we will continue to work hard to offer to our members a competitive pricing structure, second-to-none service and the tangible benefits unique to mutual building societies and credit unions. This is how we live the mutual difference.”



[1] The rating refers to an institution’s customers who nominate them as their main financial institution.

[2] Customer satisfaction ratings are based on the relationship with the financial institution.

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.