For the fourth year in a row, an independent survey of thousands of Canadians has shown that credit unions rank first in overall quality of customer service among all financial institutions.

The Synovate Customer Service Index survey had more than 35,000 responses among a regionally and demographically representative sample of Canadians. The survey has been conducted annually since 1987.

The 2008 Synovate Customer Service Index found credit unions ranked ahead of all banks and other financial institutions in the following categories:

> Overall Customer Service Excellence;

> Values My Business;

> Financial Planning and Advice; and

> Branch Service Excellence.

Credit unions also tied for first in the categories of Recommend to Friends and Family, and Telephone Banking Excellence.

“Synovate’s research has shown that Canadians like dealing with organizations that reflect their values,” said David Phillips, president and CEO of Credit Union Central of Canada. “The co-operative principles that credit unions adhere to lead us to focus on meeting peoples’ needs and serving the communities where we live.”

“We are pleased to win the Best Banking Awards, but not surprised,” Phillips adds.

The 452 credit unions affiliated with Canadian Central have assets of $106 billion and more than five million members. Credit unions are provincially regulated financial institutions owned by their member/customers that provide a full range of financial services.

Among Canada’s big 5 banks, TD Canada Trust was ranked No. 1 in customer service excellence among for the fourth year in a row.

TD Canada Trust was the sole winner in six of 11 categories, and shared top ranking in the rest.

Synovate, the market research arm of Aegis Group plc, generates consumer insights that drive competitive marketing solutions. It employs more than 6,000 staff in 63 countries.