Small business owners have rated Huntington Bank (NASDAQ: HBAN;
) highest in the nation for customer satisfaction, according to the J.D. Power and Associates 2012 U.S. Small Business Banking Satisfaction Study released today. The findings rank Huntington highest in overall customer satisfaction among the largest financial institutions in the United States, whose 7,246 customers were surveyed.
Huntington had an overall score of 793 on a 1,000-point scale, up from 767 in 2011, when Huntington ranked second-highest in the nation. J.D. Power’s study indicates that Huntington performs particularly well in account activities, product offerings, fees and account information. Overall satisfaction among small business banking customers averaged 736 in 2012, reflecting a 19-point increase from 2011.
“Huntington is delighted to have received this positive recognition from an independent and highly authoritative organization, such as J.D. Power and Associates,” said Mary Navarro, Huntington’s retail and business banking director. “Customer satisfaction is at the core of what we do every day. We thank our customers for their loyalty, and our colleagues, whose highest priority is engagement with our customers.”
J.D. Power’s ranking comes on the heels of Huntington’s recognition as the third-largest lender in the country by the U.S. Small Business Administration (SBA) for total loans. Huntington also ranks as the No. 1 SBA lender in its markets for both total loans and dollars lent.
“Small businesses are a critical priority for Huntington because they create a significant percentage of the new jobs in the nation and are essential to the vitality of our cities and communities,” said Steve Rhodes, business banking director for Huntington. “It is great to hear such positive feedback from our customer partners that are supporting the nation’s economic recovery.”
Huntington’s small business initiatives include:
- $4 billion commitment to small business lending that began in 2010 and is on track to be completed ahead of schedule.
- Second-look lending, so that every loan application that may not meet initial eligibility is reviewed again to see if anything was missed that could help qualify the company.
- A basic business checking account that is easy to manage. There are no monthly service fee for businesses that have up to 100 transactions, online statements, and up to $5,000 in coin and currency handling.
- A strong focus on deep customer relationships and business bankers who know their customers’ businesses.
The J.D. Power study also concluded that greeting customers when they walk in a branch can go a long way toward a “satisfying experience.” At Huntington, every customer who walks into a branch is greeted with the word “Welcome” and asked what the staff can do for them.