Eastern Bank ranked highest in customer satisfaction
J.D. Power 2014 U.S. Retail Banking Satisfaction StudySM ranked Eastern Bank highest in customer satisfaction in New England
BOSTON, May 1, 2014 – Eastern Bank ranked highest in customer satisfaction in New England, according to the J.D. Power 2014 U.S. Retail Banking Satisfaction StudySM. This is the third time in five years Eastern Bank has ranked highest in this study (2010, 2011 and 2014).
Eastern Bank, the nation’s oldest and largest mutual bank, received a score of 817 on a 1,000-point scale, which is well ahead New England’s average score of 762.
“We're thrilled to be recognized by our customers as a leader in customer satisfaction among all banks in the region,” said Richard E. Holbrook, Eastern Bank’s Chairman and CEO. “Our employees are committed to making sure that every customer is completely satisfied with their experience at Eastern Bank, so it’s truly an honor to have that effort recognized.”
The annual study analyzed the following customer satisfaction factors: account activities, account information, facility, fees, problem resolution, and product offerings. About 80,000 customers nationwide were asked questions about their primary bank.
Eastern also received the J.D. Power honor in 2010 and 2011, and ranked second in 2012 and 2013. As part of its commitment to service improvement, last year Eastern Bank implemented a “voice of the customer” program where it began surveying customers about their various interactions and experiences with the bank. Based on survey feedback, Eastern immediately eliminated two fees that were undermining satisfaction among customers:
• The monthly maintenance fee on personal savings accounts ($2.00);
• The debit card replacement fee ($10.00).
Eastern remains committed to superior service to all customers, including small business. For the fifth consecutive year in 2013, Eastern Bank was ranked as the No. 1 U.S. Small Business Administration (SBA) lender in Massachusetts. Eastern was also named the No. 1 SBA lender in New England for the fourth consecutive year.
To view more information about the J.D. Power and Associates 2014 U.S. Retail Banking Satisfaction Study visit: http://www.jdpower.com/pr-id/2014058.
About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the country, with $8.7 billion in assets and more than 90 branches serving communities from the Merrimack Valley to Cape Cod. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Bank Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes. For more information, visit www.easternbank.com, www.facebook.com/easternbank or www.twitter.com/easternbank.
For more information, contact: Andrew Ravens, Public Relations, Eastern Bank, 781-598-8528, or e-mail Andrew Ravens.