MINNEAPOLIS, Feb 16, 2010 (BUSINESS WIRE) -- U.S. Bank customers are increasingly loyal and satisfied, and they consider U.S. Bank's services to be of high quality and value according to the American Customer Satisfaction Index (ACSI) research conducted in the fourth quarter of 2009.
U.S. Bank surpassed industry averages and topped the four largest banks in the country in customer satisfaction, customer expectations, perceived quality, perceived value and customer loyalty.U.S. Bank scored 77 in overall ACSI customer satisfaction, compared to the next highest reported score of 73 and the industry average of 75. U.S. Bank exceeded reported industry averages in the important categories of loyalty, quality and value by seven or more points.
"We've experienced a flight to quality for many months, and now these results are evidence of our success," said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. "Our company has been a source of strength and stability and as these scores demonstrate, customers are taking notice. At U.S. Bank, they find high quality service and value, and perhaps most importantly, our customers are very loyal. As now the fifth largest commercial bank in the United States with the fourth largest branch network, we are very pleased with our results, and we know that this positive momentum is just the beginning. We are focused on customer loyalty with a number of new programs aimed at moving us from very good to great."
ACSI independently surveys customers of the largest companies in consumer goods and services industries. U.S. Bank has engaged ACSI to survey its retail customers over the last several years and continues to improve its scores.
The American Customer Satisfaction Index is a national economic indicator of customer evaluations of the quality of products and services available to household consumers in the United States. It is updated each quarter with new measures for different sectors of the economy replacing data from the prior year. The national ACSI score for a given quarter factors in scores from about 200 companies in 44 industries and from local and federal government services over the previous four quarters. The ACSI was developed at University of Michigan's Ross School of Business and can be found on the web at www.theacsi.org.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $281 billion in assets as of Dec. 31, 2009, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,015 banking offices in 25 states and 5,148 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
SOURCE: U.S. Bank
U.S. Bank Media Relations
Steve Dale, 612-303-0784
U.S. Bank Media Relations
Teri Charest, 612-303-0732