December ASCI: CUs soar, big banks still behind

While some large banks have recovered from the financial crisis of 2008, they remain less popular among customers compared to small banks and credit unions (CUs), the Boston Globe reports.

While some large banks have recovered from the financial crisis of 2008, they remain less popular among customers compared to small banks and credit unions (CUs), the Boston Globe reports.

This, and other significant findings were reported in the latest American Customer Satisfaction Index (ASCI). While more personalized services and fewer fees continue to place CUs near the top of the list, Bank of America (BoA) has been unable to remove itself from the cellar of customer satisfaction and loyalty.

"It's pretty well entrenched at the bottom of the industry," said David VanAmburg, managing director of the index, speaking of BoA.

Among the four major banks in the survey, Wells Fargo and Citigroup were the most well-liked, followed by J.P. Morgan Chase and lastly, BoA.

Specifically, BoA's rating dropped from a high of 74 in March down to 68, where its remained stagnant for the past three months, the report shows.

CUs are flowing in the opposite direction, jumping nearly 9 percent in the past month to 87 - the highest level any industry has ever scored on the ACSI, Business Insider notes.