Canada’s credit unions are recognized with their 20th consecutive Customer Service Excellence Award
By Rebecca Harris
For Canadians seeking financial services that go beyond transactions, credit unions stand out for their personalized, member-first approach. This dedication to exceptional service has once again been recognized at the , at which Canada’s credit unions received the Customer Service Excellence Award for the 20th consecutive year – outperforming all other financial institutions. This remarkable achievement highlights credit unions’ enduring commitment to serving local communities.
“Winning this award for 20 years in a row is a testament to the relentless focus credit unions place on serving their members. It highlights our dedication to going beyond financial services, emphasizing personal connections and member financial well-being,” says Jeff Guthrie, president and chief executive officer of the Canadian Credit Union Association (CCUA). “The recognition from Ipsos underscores that our profits-for-people approach continues to set us apart in the financial sector.”
The credit union difference
Credit unions offer an innovative approach to serving Canadians’ financial needs, rooted in deep connections with members.
“Credit unions differentiate themselves by truly knowing their members,” Guthrie says. “We don’t just offer financial products; we provide solutions tailored to each individual’s needs.”
For example, to ensure members have access to affordable housing, many credit unions offer competitive mortgage rates, repayment flexibility and other innovative strategies that pave the way to homeownership in Canada. They also provide discounted financial services to numerous community organizations, ultimately benefiting vulnerable Canadians. Additionally, credit unions champion financial literacy, helping members gain more knowledge, skills and confidence so they can make the right financial decisions – independent of any products or services.
“This member-first approach, combined with our deep community involvement, is why we consistently lead in customer satisfaction,” Guthrie adds. “Our success at the Ipsos Awards year after year is not just a recognition – it’s a promise we make to our members.”
On the community front, credit unions make a significant impact. As noted in CCUA’s , in 2023, Canada’s credit unions contributed $56 million to local communities, including $45.8 million in donations, along with donations in kind, scholarships and bursaries, sponsorships, and more than 70,000 volunteer hours by credit union employees. For example, Affinity Credit Union has committed $250,000 to the Saskatoon Food Bank & Learning Centre to help fund a new facility. In Ontario, Libro Credit Union renewed its partnership with Junior Achievement (JA) South Western Ontario to deliver financial literacy programs to more than 4,000 elementary and high school students.
Recognizing outstanding services across the board
With the diverse and exceptional service they provide members across the country, Canada’s credit unions earned additional accolades at the 2024 Ipsos Financial Service Excellence Awards. Their award categories include Values My Business, Financial Planning & Advice, Branch Service Excellence, Online Banking Excellence, and Live Agent Telephone Banking Excellence.
“These awards affirm our commitment to building trust and delivering outstanding service both in person and online,” says Guthrie. “Our success across these diverse areas shows that we don’t just strive to meet expectations; we go above and beyond to exceed them.”
