Savvy consumers prefer credit unions

LGFCU members are quite savvy! We’re not surprised, but now a recent poll confirms it.

Among those polled through GoBankingRates.com and its partner sites—US News, Boston.com, AL.com, and The City Wire—more than 73% of poll respondents choose credit unions as their preferred institution. Local community banks distantly followed, being preferred by 14.18%, national banks by 9.93%, and other institutions by 2.13%.

The poll found that for users of financial services, it's all about trust—"and the credit union model, as a cooperative operating on a not-for-profit basis with no shareholders—engenders trust among consumers and small business customers," says Paul Gentile, Credit Union National Association executive vice president of strategic communications and engagement.

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