Four more credit unions receive 5-star Fairbanking Marks for their loan products.
19 Jan 18
The Fairbanking Mark is awarded by the Fairbanking Foundation following a rigorous assessment which includes independent research involving the customers or members of a financial services provider. To receive the Fairbanking Mark, this research must confirm that customers have changed their financial behaviour for the better by having the product.
Chief Executive, Aidene Walsh, at the Fairbanking Foundation commented on the achievement for the four credit unions saying: “The Fairbanking Foundation is delighted to recognise the effectiveness of the personal loans of the Police, Commsave, Blues and Twos and Bristol Credit Unions in improving customer financial wellbeing. They have all been awarded the highest classification of a 5 star Mark. The Save As You Borrow feature in particular is a ‘rare financial services jewel’ which has a lasting impact on customers’ financial habits. Fairbanking looks forward to certifying more credit unions across all products in 2018.”
Police Credit Union, Paul Norgrove, CEO, said: “Police Credit Union is extremely pleased to receive the maximum mark awarded for its loan products. Achieving a 5 star rating from the Fairbanking Foundation shows our dedication to providing financial well-being solutions to our members, especially during the current financial climate. The work the Fairbanking Foundation do is vital as it gives applicants the confidence when making important financial decisions. We will continue our efforts to provide the best service and customer experience to our members and those who join Police Credit Union, which serves those who serve and protect our country.“
Amanda Ivey, Chief Executive Officer, Commsave says: “Being a member owned financial cooperative, we are delighted that our personal loan has been assessed and accredited as a five star product. The Fairbanking foundations research clearly demonstrates the credit union benefits of having access to a Save as you Borrow model (SAYB), which improves the financial wellbeing of our members.”
Following the 5 stars award from the Fairbanking Foundation on behalf of the Blues and Twos Credit Union Board, Victoria Harrison, Chief Executive Officer said how extremely proud the organisation was after reading the feedback from the IPOS MORI survey in which credit union borrowing members were asked about their lending experience and after sales care.