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For the third year in a row, Bangor Savings Bank has received acknowledgement from both J.D. Power and Forbes in recognition of its customer satisfaction. For the seventh time in the past eight years, Bangor Savings Bank received the highest ranking in customer satisfaction in the New England region for the J.D. Power 2022 U.S. Retail Banking Satisfaction StudySM. The Bank also placed 7th on Forbes’ list of “World’s Best Banks,” its fourth consecutive year on this list. Both rankings demonstrate Bangor Savings Bank’s commitment and dedication to providing their customers with the highest quality of service for their banking needs, continuously going above and beyond to support them with personalized financial advice, flexibility and convenience, and guidance on maximizing time while building on their financial well-being and independence.
“We are truly honored to be recognized for providing the highest levels of customer satisfaction,” said Bob Montgomery-Rice, President and CEO of Bangor Savings Bank. “This is a reflection of our unwavering commitment to providing exceptional customer experiences by our Bank employees each day across all our locations. Creating personalized relationships and caring for our customers’ individual financial needs has been our organization’s priority for 170 years,” Montgomery-Rice continued. “We recognize that trust in a financial institution is paramount, and we strive to find thoughtful and innovative ways to deliver on our You Matter More Promise and ensure our customers know they truly matter more.”
About J.D. Power U.S. Retail Banking Satisfaction StudiesSM
Bangor Savings Bank received the highest score in the New England Region of the J.D. Power 2015-2016 and 2018-2022 (tied in 2022)* U.S. Retail Banking Satisfaction Studies of customers’ satisfaction with their primary bank. This is the fifth consecutive year Maine’s largest bank has been ranked highest in the region by the annual study. Customers were asked to rank banks on a number of categories, with Bangor Savings Bank ultimately scoring highest for the following categories: Account offerings, Allowing customers to bank how and when they want (Convenience), and Saving time and money.
With an index score of 722, the Bank scored 88 points higher than the regional average. The U.S. Retail Banking Satisfaction Study, now in its 17th year, was redesigned for 2022. It measures satisfaction across seven factors which, in order of importance, are trust; people; account offerings; allowing customers to bank how and when they want; saving time and money; digital channels; and resolving problems or complaints.
The study is based on responses from 101,587 retail banking customers of the largest banks in the United States regarding their experiences with their retail bank. It was fielded from April 2021 through January 2022. National banks are defined as banks with more than $300 billion in domestic deposits; regional banks are those with $65 billion-$299 billion in domestic deposits; and midsize banks are those with 50-100 branches nationally and at least 20 branches within a respective region.
Tied in 2022. For J.D. Power 2022 award information, visit jdpower.com/awards
About Forbes’ World Best Banks
The World’s Best Banks were selected based on over 45,000 consumer surveys representing 27 different countries. Participants were asked to rate every bank at which they have/had a checking or savings account on overall recommendation and satisfaction, as well as rate the banks in five different criteria: Trust, Terms & Conditions, Customer Services, Digital Services, and Financial Advice. The results yielded between five and 75 banks per country with a minimum score of 70 out of 100 and selected depending on the core achieved, number of evaluations collected, number of active banks in the country, and number of banks with enough evaluations.
Bangor Savings Bank ranks #7 out of a total 75 awarded banks in the U.S., its third consecutive year ranking in the Top 10 of Best Banks. The U.S. had the largest number of awarded banks, followed by Japan with 45 and Germany with 35. View the complete list of World’s Best Banks and learn more about Forbes’ scoring methodology and ranking conditions here
Bangor Savings Bank’s continues to meet the needs of its customers and communities by providing better banking experiences and products and services that create financial inclusion and accessibility. This ongoing commitment is reflected in the J.D. Power and Forbes recognition. As just one example, the Bank recently launched the Maine ABLE Benefit CheckingSM, the first account of its kind in the nation, in partnership with the Maine State Treasurer. The account provides new avenues for financial health, planning, and empowerment for individuals with disabilities by allowing greater accessibility to financial products and services while protecting eligibility for federal and State of Maine means-tested benefits. Bangor Savings Bank is proud to serve the people and communities of Northern New England and is honored to be the recipient of two national awards recognizing these efforts.