Omaha, Nebraska April 7, 2014 – The MSR Group today announced that Investors Bank is the recipient of its APECS® Customer Advocacy Award, Northeast Region.
This award is given to the client retail banking organization receiving the highest Net Advocacy Rating (NAR®) among its customers within their respective region. To qualify as a recipient, clients must have achieved a rating significantly higher than the national average and rank highest among all APECS® clients. Investors Bank posted a 2013 Net Advocacy Rating 7.4 points higher than the 2013 APECS® National Average. Investors Bank’s rating is significantly higher than many of the nation’s largest banks, including Bank of America, Chase, US Bank and Wells Fargo. Net Advocacy Rating (NAR®) is one of the strongest indicators of customer retention and increased revenue for financial institutions.
Speaking about the honor of receiving the APECS® Award, Investors Bank EVP and Chief Retail Officer Paul Kalamaras said, “Our achievement is testament to the quality of the client experience that our dedicated employees provide to their customers each day across our banking network. This award acknowledges our commitment to building valuable customer relationships and how our clients’ expectations continue to influence and enhance our client-centric focus.”
Ratings are based on results from The MSR Group’s National Consumer Banking Survey, which collects feedback on customer satisfaction and advocacy for more than 100 banks and credit unions. To ensure accurate benchmark comparisons for clients, a stratified random sampling of retail banking consumers is conducted each quarter, gathering feedback on consumers’ banking experiences within each of four quadrants across the US. This rolling tracking study interviews 2,400 retail banking consumers annually.
“Investors Bank recognizes the value of customer feedback and it’s an important component of how they operate,” said The MSR Group Chief Operating Officer Joel Vaslow. “Even as they grow, they continue that focus. APECS® allows them to keep in touch with how well they’re doing.”
About Investors Bank
Investors Bank is a full-service community bank that has been serving customers since 1926. With $15.56 billion in assets and a network of 125 retail branches in New Jersey and New York City and on Long Island. Investors Bank delivers personalized services and products tailored to the needs of its customers. Investors’ consumer banking services include deposit products, online and mobile banking, home equity loans and lines of credit and a full array of mortgage loans. Serving the business community, Investors provides deposit accounts, cash management services, business loans and lines of credit, and an array of commercial financing solutions. Investors Bank is a member of the FDIC and an Equal Housing Lender.
About The MSR Group
The MSR Group is a nationally recognized full-service market research company. Located in Omaha, Nebraska, The MSR Group offers a full complement of quantitative and qualitative methodologies across the financial, retail, advertising and agricultural industries. The firm’s proprietary APECS® System specializes in providing “real-time” voice of the customer research for financial institutions.