Abstract:

Chief executive officers (CEOs) at America's top 100 commercial banks, savings institutions and credit unions were surveyed to determine the importance of cost containment and customer retention practices. The study explores differences that exist among the three types of financial institutions. The results of the survey indicate that commercial bank CEOs rate themselves higher than others in almost all areas of cost containment and customer service. Commercial bank and credit union CEOs gave highest priority to customer retention items. Principles for improving service quality and customer retention are discussed in detail.

Keywords: Costs; Customer reduction; Customer service; Financial institutions; Service quality

Document Type: Research article

DOI: 10.1108/09604529910282472