bank mecu - responsible banking

The Customer Insights Survey required customers to rate how they perceive bankmecu against a list of key attributes. Attributes were then ranked in order of highest association to lowest. Rankings are shown in brackets and are comparable to previous year’s rankings. There were only slight movements among attributes, with ‘practice socially responsible banking’ moving up to third spot. The biggest mover, ‘provides value for money banking’ moved from eighth to fifth highest ranked attribute, suggesting the acceptance of fee changes last year and a positive response to bankmecu’s competitive deposit and loan rates. The lowest ranked attributes are likely due to the fact that a lower number of customers have home loans or investments, whereas a larger base can comment on more widely applicable subjects such as ethics, value and security. 

Figure 5f: Top 10 attributes customers associate with bankmecu

Customer verbatim comments taken from the Customer Insights Survey also identified a reduction in last year’s prevalent focus on fees, again highlighting that customers' have adapted to last year’s pricing changes, and modified their own behaviour to reduce fees.