This survey of nearly 2,000 bank and credit union customers found that overall satisfaction with call center representatives is increasing, though satisfaction remains highest at credit unions and small banks. Key findings include: - Credit unions and small banks had the highest levels of satisfaction, effectiveness of representatives, and likelihood of being recommended, while the largest banks like Bank of America and Wells Fargo had among the lowest ratings. - Younger generations and lower-income customers reported lower satisfaction and were less likely to recommend their bank than older and higher-income groups. - Inquiries that were resolved during the call center contact led to much higher satisfaction than those that were not resolved.

1. by Jim S Miller, President, Prime Performance, Inc.
Customer Experience With Call
Center Representatives
PRIME PERFORMANCE 2011 BANK & CREDIT UNION SATISFACTION SURVEY
The results from this survey of 1,979 U.S. bank and large banks are showing significant improvement.
credit union customers who recently spoke with a This report analyzes results for credit unions, small
call center representative show customer banks, large banks and mega banks, including
satisfaction is increasing. Satisfaction remains Chase, Bank of America and Wells Fargo.
highest at credit unions and small banks although

2. Table of Contents Methodology
DATA COLLECTION METHOD
2 Methodology
August – September 2011 Online Survey
3 Survey Questions + Findings
3-5 Overall satisfaction with the service SAMPLE SIZE
received 1,979 adults who spoke with a call center representative within
the last two weeks.
6-8 Likely to recommend
9-11 How effective was the representative at
meeting your needs? SAMPLE
A total of 1,979 interviews were conducted in the U.S. Sampling
12-14 Likely to switch banks in the next 12 error cannot be calculated for surveys that use a self-selected
months online panel of respondents. If this sample had been conducted
among a fully random sample, the estimated margin of error for
15-16 Was your inquiry resolved to your
sample would be ±1.9 percentage points at the 95% confidence
satisfaction during this contact?
level.
17-18 Was the representative friendly?
SCORING
19-20 Did the representative appear Depending on the question, consumers selected responses along a
knowledgeable about products and seven-point scale or selected “yes”, “no” or “don’t remember”. For
services? questions on a seven-point scale, positive responses are the
percent of individuals selecting one of the top two boxes (6 or 7).
21-22 Was the representative genuinely
interested in helping you? Negative responses are the percent of individuals selecting one of
the bottom three boxes (1, 2 or 3). For “yes”, “no”, “don’t
23-24 Did the representative explain things in remember” questions, positive responses are the percent of
a way that was easy to understand? individuals selecting “yes”.
25-26 Did the representative value your time? BANK CATEGORIES
27-28 Was the wait time acceptable? For analysis purposes, banks were put into categories to reflect
the size and nature of the institutions. Credit Unions are their own
29-30 Did the representative thank you for category. Banks with less than 300 branches were grouped
your business?
together as Small Banks. Banks with 300-4,000 branches are
31-32 Did the representative use your name? included in Large Banks. Bank of America, Chase and Wells Fargo
are each included as separate categories since they have the
33-34 Did the representative introduce largest number of branches, and because most banks compete
herself/himself by name? with at least one of them.
35 About the Author: Jim S Miller
GENERATIONS
35 About Prime Performance
Generation Y (Gen Y) – born after 1980
Generation X (Gen X) – born between 1965 and 1980
Boomers+ – born before 1965
2011 Customer Experience With Call Center Representatives | 2

3. Survey Questions + Findings
Overall satisfaction with the service
received
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Credit Unions 83% 3% 86%
Small Banks 79% 6% 85%
Large Banks 66% 7% 72%
Chase 62% 9% 72%
Bank of America 56% 8% 64%
Wells Fargo 61% 7% 68%
Industry Average 70% 6% 76%
Change in Net Score: 2011 vs. 2010
+5%
+4%
+3%
+2%
‐1%
‐2% ‐2%
Credit Unions Small Banks Large Banks Chase Bank of Wells Fargo Industry
America Average
2011 Customer Experience With Call Center Representatives | 3

4. Survey Questions + Findings
Overall satisfaction with the service
received - by generation
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Gen Y 64% 8% 71%
Gen X 68% 6% 74%
Boomer+ 75% 5% 81%
Industry Average 70% 6% 76%
Change in Net Score: 2011 vs. 2010
+7%
+5%
+3%
+0%
Gen Y Gen X Boomer+ Industry Average
2011 Customer Experience With Call Center Representatives | 4

5. Survey Questions + Findings
Overall satisfaction with the service
received - by income
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
<$50,000 72% 6% 78%
$50,000‐$99,999 68% 6% 74%
$100,000+ 72% 5% 77%
Industry Average 70% 6% 76%
Change in Net Score: 2011 vs. 2010
+8%
+4%
+3%
+2%
<$50,000 $50,000‐$99,999 $100,000+ Industry Average
2011 Customer Experience With Call Center Representatives | 5

6. Survey Questions + Findings
Likely to recommend
% Positive Responses (% Likely) * Net Score: % of positive responses
% Negative Responses (% Unlikely) minus % of negative responses
Net Score*
Credit Unions 81% 4% 85%
Small Banks 71% 8% 78%
Large Banks 55% 10% 65%
Chase 54% 10% 64%
Bank of America 36% 15% 52%
Wells Fargo 43% 11% 54%
Industry Average 60% 9% 69%
Change in Net Score: 2011 vs. 2010
+6%
+1% +0% +0% +0%
‐9% ‐9%
Credit Unions Small Banks Large Banks Chase Bank of Wells Fargo Industry
America Average
2011 Customer Experience With Call Center Representatives | 6

7. Survey Questions + Findings
Likely to recommend–by generation
% Positive Responses (% Likely) * Net Score: % of positive responses
% Negative Responses (% Unlikely) minus % of negative responses
Net Score*
Gen Y 55% 9% 64%
Gen X 60% 10% 70%
Boomer+ 63% 8% 72%
Industry Average 60% 9% 69%
Change in Net Score: 2011 vs. 2010
+7%
+3%
+0%
‐5%
Gen Y Gen X Boomer+ Industry Average
2011 Customer Experience With Call Center Representatives | 7

8. Survey Questions + Findings
Likely to recommend–by income
% Positive Responses (% Likely) * Net Score: % of positive responses
% Negative Responses (% Unlikely) minus % of negative responses
Net Score*
<$50,000 60% 8% 69%
$50,000‐$99,999 60% 10% 70%
$100,000+ 61% 8% 69%
Industry Average 60% 9% 69%
Change in Net Score: 2011 vs. 2010
+5%
+4%
+0%
‐3%
<$50,000 $50,000‐$99,999 $100,000+ Industry Average
2011 Customer Experience With Call Center Representatives | 8

9. Survey Questions + Findings
How effective was the representative at
meeting your needs?
% Positive Responses (% Effective) * Net Score: % of positive responses
% Negative Responses (% Not Effective) minus % of negative responses
Net Score*
Credit Unions 82% 3% 85%
Small Banks 78% 6% 85%
Large Banks 65% 8% 74%
Chase 63% 8% 72%
Bank of America 56% 10% 67%
Wells Fargo 62% 9% 71%
Industry Average 70% 7% 77%
Change in Net Score: 2011 vs. 2010
+2% +2%
+1%
+0%
‐1%
‐2%
‐4%
Credit Unions Small Banks Large Banks Chase Bank of Wells Fargo Industry
America Average
2011 Customer Experience With Call Center Representatives | 9

10. Survey Questions + Findings
How effective was the representative at
meeting your needs–by generation
% Positive Responses (% Effective) * Net Score: % of positive responses
% Negative Responses (% Not Effective) minus % of negative responses
Net Score*
Gen Y 62% 9% 71%
Gen X 68% 7% 74%
Boomer+ 76% 6% 82%
Industry Average 70% 7% 77%
Change in Net Score: 2011 vs. 2010
+6%
+1% +1%
‐1%
Gen Y Gen X Boomer+ Industry Average
2011 Customer Experience With Call Center Representatives | 10

11. Survey Questions + Findings
How effective was the representative at
meeting your needs–by income
% Positive Responses (% Effective) * Net Score: % of positive responses
% Negative Responses (% Not Effective) minus % of negative responses
Net Score*
<$50,000 73% 6% 79%
$50,000‐$99,999 66% 9% 75%
$100,000+ 70% 6% 77%
Industry Average 70% 7% 77%
Change in Net Score: 2011 vs. 2010
+6%
+3%
+1%
‐1%
<$50,000 $50,000‐$99,999 $100,000+ Industry Average
2011 Customer Experience With Call Center Representatives | 11

12. Survey Questions + Findings
Likely to switch banks in the next
12 months
% Positive Responses (% Unlikely) * Net Score: % of positive responses
% Negative Responses (% Likely) minus % of negative responses
Net Score*
Credit Unions 76% 6% 82%
Small Banks 68% 10% 78%
Large Banks 50% 16% 67%
Chase 41% 16% 57%
Bank of America 40% 18% 58%
Wells Fargo 36% 18% 53%
Industry Average 56% 13% 69%
Change in Net Score: 2011 vs. 2010
+8%
+3% +4%
+1% +0%
‐2%
‐9%
Credit Unions Small Banks Large Banks Chase Bank of Wells Fargo Industry
America Average
2011 Customer Experience With Call Center Representatives | 12

13. Survey Questions + Findings
Likely to switch banks in the next
12 months–by generation
% Positive Responses (% Unlikely) * Net Score: % of positive responses
% Negative Responses (% Likely) minus % of negative responses
Net Score*
Gen Y 48% 15% 64%
Gen X 48% 16% 64%
Boomer+ 66% 10% 76%
Industry Average 56% 13% 69%
Change in Net Score: 2011 vs. 2010
+6%
+4%
+3%
+2%
Gen Y Gen X Boomer+ Industry Average
2011 Customer Experience With Call Center Representatives | 13

14. Survey Questions + Findings
Likely to switch banks in the next
12 months–by income
% Positive Responses (% Unlikely) * Net Score: % of positive responses
% Negative Responses (% Likely) minus % of negative responses
Net Score*
<$50,000 60% 13% 72%
$50,000‐$99,999 51% 15% 66%
$100,000+ 57% 10% 68%
Industry Average 56% 13% 69%
Change in Net Score: 2011 vs. 2010
+12%
+4%
+3% +3%
<$50,000 $50,000‐$99,999 $100,000+ Industry Average
2011 Customer Experience With Call Center Representatives | 14

15. Survey Questions + Findings
Was your inquiry resolved to your
satisfaction during this contact?
% Positive Responses (% Yes)
Credit Unions 93%
Small Banks 93%
Large Banks 89%
Chase 88%
Bank of America 84%
Wells Fargo 87%
Industry Average 90%
Overall satisfaction based on:
Was your inquiry resolved to your satisfaction during this contact?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
82% 1% 83%
inquiry was resolved
+118% +47% +70%
Overall satisfaction when ‐36% 49% 13%
inquiry was not resolved
2011 Customer Experience With Call Center Representatives | 15

16. Survey Questions + Findings
Was your inquiry resolved to your
satisfaction during this contact?
% Positive Responses (% Yes)
By generation
Gen Y 87%
Gen X 89%
Boomer+ 91%
Industry Average 90%
By income
<$50,000 90%
$50,000‐$99,999 89%
$100,000+ 91%
Industry Average 90%
2011 Customer Experience With Call Center Representatives | 16

17. Survey Questions + Findings
Was the representative friendly?
% Positive Responses (% Yes)
Credit Unions 96%
Small Banks 96%
Large Banks 91%
Chase 89%
Bank of America 90%
Wells Fargo 88%
Industry Average 93%
Overall satisfaction based on:
Was the representative friendly?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
77% 3% 81%
rep was friendly
+107% +41% +67%
Overall satisfaction when ‐30% 44% 14%
rep was not friendly
2011 Customer Experience With Call Center Representatives | 17

18. Survey Questions + Findings
Was the representative friendly?
% Positive Responses (% Yes)
By generation
Gen Y 90%
Gen X 92%
Boomer+ 95%
Industry Average 93%
By income
<$50,000 94%
$50,000‐$99,999 91%
$100,000+ 90%
Industry Average 93%
2011 Customer Experience With Call Center Representatives | 18

19. Survey Questions + Findings
Did the representative appear knowledgeable
about products and services?
% Positive Responses (% Yes)
Credit Unions 93%
Small Banks 94%
Large Banks 90%
Chase 83%
Bank of America 86%
Wells Fargo 83%
Industry Average 90%
Overall satisfaction based on:
Did the representative appear knowledgeable about products and services?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
rep appeared 78% 3% 81%
knowledgeable
+106% +40% +65%
Overall satisfaction when
rep did not appear ‐28% 43% 16%
knowledgeable
2011 Customer Experience With Call Center Representatives | 19

20. Survey Questions + Findings
Did the representative appear knowledgeable
about products and services?
% Positive Responses (% Yes)
By generation
Gen Y 90%
Gen X 91%
Boomer+ 89%
Industry Average 90%
By income
<$50,000 90%
$50,000‐$99,999 90%
$100,000+ 88%
Industry Average 90%
2011 Customer Experience With Call Center Representatives | 20

21. Survey Questions + Findings
Was the representative genuinely
interested in helping you?
% Positive Responses (% Yes)
Credit Unions 92%
Small Banks 93%
Large Banks 85%
Chase 84%
Bank of America 80%
Wells Fargo 83%
Industry Average 87%
Overall satisfaction based on:
Was the representative genuinely interested in helping you?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
rep was genuinely 82% 2% 84%
interested
+101% +37% +63%
Overall satisfaction when
rep was not genuinely ‐19% 39% 20%
interested
2011 Customer Experience With Call Center Representatives | 21

22. Survey Questions + Findings
Was the representative genuinely
interested in helping you?
% Positive Responses (% Yes)
By generation
Gen Y 84%
Gen X 86%
Boomer+ 90%
Industry Average 87%
By income
<$50,000 89%
$50,000‐$99,999 86%
$100,000+ 85%
Industry Average 87%
2011 Customer Experience With Call Center Representatives | 22

23. Survey Questions + Findings
Did the representative explain things
in a way that was easy to understand?
% Positive Responses (% Yes)
Credit Unions 96%
Small Banks 97%
Large Banks 93%
Chase 88%
Bank of America 91%
Wells Fargo 92%
Industry Average 93%
Overall satisfaction based on:
Did the representative explain things in a way that was easy to understand?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
76% 4% 80%
rep was easy to understand
+99% +38% +61%
Overall satisfaction when
rep was not easy to ‐23% 42% 19%
understand
2011 Customer Experience With Call Center Representatives | 23

24. Survey Questions + Findings
Did the representative explain things
in a way that was easy to understand?
% Positive Responses (% Yes)
By generation
Gen Y 91%
Gen X 94%
Boomer+ 94%
Industry Average 93%
By income
<$50,000 94%
$50,000‐$99,999 94%
$100,000+ 92%
Industry Average 93%
2011 Customer Experience With Call Center Representatives | 24

25. Survey Questions + Findings
Did the representative value your time?
% Positive Responses (% Yes)
Credit Unions 90%
Small Banks 90%
Large Banks 80%
Chase 83%
Bank of America 78%
Wells Fargo 81%
Industry Average 84%
Overall satisfaction based on:
Did the representative value your time?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
82% 2% 84%
rep valued your time
+99% +33% +65%
Overall satisfaction when
rep did not value your time ‐17% 36% 19%
2011 Customer Experience With Call Center Representatives | 25

26. Survey Questions + Findings
Did the representative value your time?
% Positive Responses (% Yes)
By generation
Gen Y 81%
Gen X 84%
Boomer+ 86%
Industry Average 84%
By income
<$50,000 86%
$50,000‐$99,999 83%
$100,000+ 81%
Industry Average 84%
2011 Customer Experience With Call Center Representatives | 26

27. Survey Questions + Findings
Was the wait time acceptable?
% Positive Responses (% Yes)
Credit Unions 96%
Small Banks 95%
Large Banks 90%
Chase 88%
Bank of America 86%
Wells Fargo 93%
Industry Average 92%
Overall satisfaction based on:
Was the wait time acceptable?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
76% 4% 80%
wait time was acceptable
+89% +34% +56%
Overall satisfaction when
wait time was not ‐13% 38% 24%
acceptable
2011 Customer Experience With Call Center Representatives | 27

28. Survey Questions + Findings
Was the wait time acceptable?
% Positive Responses (% Yes)
By generation
Gen Y 90%
Gen X 92%
Boomer+ 92%
Industry Average 92%
By income
<$50,000 93%
$50,000‐$99,999 91%
$100,000+ 89%
Industry Average 92%
2011 Customer Experience With Call Center Representatives | 28

29. Survey Questions + Findings
Did the representative thank you for
your business?
% Positive Responses (% Yes)
Credit Unions 82%
Small Banks 82%
Large Banks 82%
Chase 83%
Bank of America 78%
Wells Fargo 82%
Industry Average 82%
Overall satisfaction based on:
Did the representative thank you for your business?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
78% 3% 81%
thanked
+56% +20% +37%
Overall satisfaction when 22% 23% 45%
not thanked
2011 Customer Experience With Call Center Representatives | 29

30. Survey Questions + Findings
Did the representative thank you for
your business?
% Positive Responses (% Yes)
By generation
Gen Y 77%
Gen X 81%
Boomer+ 85%
Industry Average 82%
By income
<$50,000 84%
$50,000‐$99,999 80%
$100,000+ 80%
Industry Average 82%
2011 Customer Experience With Call Center Representatives | 30

31. Survey Questions + Findings
Did the representative use your name?
% Positive Responses (% Yes)
Credit Unions 71%
Small Banks 74%
Large Banks 72%
Chase 74%
Bank of America 71%
Wells Fargo 69%
Industry Average 72%
Overall satisfaction based on:
Did the representative use your name?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
77% 4% 81%
rep used name
+35% +11% +24%
Overall satisfaction when 42% 15% 57%
rep did not use name
2011 Customer Experience With Call Center Representatives | 31

32. Survey Questions + Findings
Did the representative use your name?
% Positive Responses (% Yes)
By generation
Gen Y 73%
Gen X 70%
Boomer+ 74%
Industry Average 72%
By income
<$50,000 74%
$50,000‐$99,999 72%
$100,000+ 68%
Industry Average 72%
2011 Customer Experience With Call Center Representatives | 32

33. Survey Questions + Findings
Did the representative introduce
herself/himself by name?
% Positive Responses (% Yes)
Credit Unions 78%
Small Banks 80%
Large Banks 77%
Chase 82%
Bank of America 82%
Wells Fargo 77%
Industry Average 79%
Overall satisfaction based on:
Did the representative introduce herself/himself by name?
% Positive Responses (% Satisfied) * Net Score: % of positive responses
% Negative Responses (% Dissatisfied) minus % of negative responses
Net Score*
Overall satisfaction when
rep introduced 74% 5% 79%
herself/himself
+23% +7% +16%
Overall satisfaction when
rep did not introduce 51% 12% 63%
herself/himself
2011 Customer Experience With Call Center Representatives | 33

34. Survey Questions + Findings
Did the representative introduce
herself/himself by name?
% Positive Responses (% Yes)
By generation
Gen Y 79%
Gen X 78%
Boomer+ 80%
Industry Average 79%
By income
<$50,000 80%
$50,000‐$99,999 78%
$100,000+ 79%
Industry Average 79%
2011 Customer Experience With Call Center Representatives | 34

35. About the author About Prime Performance
Jim S Miller is the President of Prime Performance. Jim Prime Performance works exclusively with financial
has worked for some of the nation’s largest financial institutions to help reduce customer attrition, increase
institutions, including SunTrust Bank, Bank One and share of wallet, grow market share and improve
NationsBank. Through senior roles in marketing, finance, profitability by developing and implementing a
market research, customer analytics, incentive superior client experience. Since 1989, we’ve been
management and retail administration, Jim has acquired pioneers in measuring client satisfaction and
a broad understanding of the many challenges faced by converting that data into comprehensive, actionable
financial institutions. plans for improving client experience.
During Jim’s 20+ years in the financial services industry, We know that service creates loyal clients. We also
Jim has had a unique view into how the actions of front- know that loyal clients are more profitable clients.
line employees affects the behavior of clients which How do we know this? Because we’ve spent over 20
ultimately drives an organization’s bottom line. It is his years talking to millions of people about what they
personal mission to empower financial institutions to want from their financial institution and what keeps
realize their full potential by improving their client them coming back. If you’re looking to improve your
experience. firm’s bottom line, let Prime Performance put this
knowledge to work for you.
Jim majored in Finance at The College of William and
Mary and earned his MBA from The University of
Virginia’s Darden Graduate School of Business
Administration. Jim now calls Boulder, CO home.
2011 Customer Experience With Call Center Representatives | 35