SAN ANTONIO – USAA Bank ranked as the most reputable bank among customers and non-customers, according to survey results from the 2018 Bank RepTrak study, a partnership between Reputation Institute and American Banker. This is the second year USAA has appeared in the survey, ranking first among customers in 2017 and ranking second for excellent overall reputation in the U.S.
“The trust and loyalty our members place in us each day and across generations is something we do not take for granted,” said Chad Borton. USAA Bank president. “As we approach the 35th anniversary of USAA Bank, this recognition will further fuel our passion to provide our members the products and services they need whenever and wherever they need them.”
USAA Bank also scored the highest of all banks in all seven dimensions of reputation including products and services, innovation, workplace, governance, citizenship, leadership and performance among customers, and in five of the seven dimensions among non-customers.
“This year’s results reveal that workplace, governance, leadership and financial performance are most important to banking customers,” said Brad Hecht, senior managing director of Americas at Reputation Institute. “A strong reputation is especially important for a bank as it facilitates customer appeal and loyalty, operating license from policymakers and regulators, and employee attraction and retention. For the first time, governance is the leading banking industry driver and citizenship is among the top three drivers for both customers and non-customers, indicating in a shift in consumer priorities.”
Now in its eighth year, the survey measures U.S. consumers’ perceptions of major bank brands. Companies were drawn from the Federal Reserve’s list of large commercial banks, with final selections determined by American Banker, based on the size of each firm’s assets and deposits. Only companies with significant retail businesses and/or significant brands were considered.
The 2018 Annual Survey of Bank Reputations scores and rankings are based on more than ratings collected via an online questionnaire in the first quarter of 2018. They measure the general public’s perception where the company stands on seven key rational dimensions of reputation.
USAA Bank ranks 28th largest U.S. bank based on deposits at $71 billion.
About USAA The USAA family of companies provides insurance, banking, investments, retirement products and advice to more than 12 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.