How we rank for
Credit unions in general are more customer oriented than banks but there are more limitations on eligibility than banks. Banks have the ability to acquire as many customers as they want but credit unions have to be a little more cautious. Their caution is reflected in eligibility requirements that at times may seem restrictive.
13% Locations and ATMs
You can be a member of a bank that has locations nationwide but the locations of credit unions are normally limited to a specific region. The specific region where a credit union is located also has a certain number of ATMs. We look for the credit unions with more locations and ATMs because they have a greater likelihood of keeping their customers satisfied.
13% Interest Rates
People usually choose to work with credit unions because of the great interest rates. In general credit unions have high interest rates for saving accounts and low interest rates for loans.
Receiving great rewards is something that is more common with banks than with credit unions which is why we want to seek out credit unions that offer great rewards to their customers. These credit unions deserve to be recognized for the extra effort they make to keep their customers happy.
13% Time in Business
It’s the tried and true that have been around for a while that provide the stability and trust customers need. This why time in business is such an important factor in our ranking criteria.
15% Consumer Reviews
This site is designed to let consumers share their experiences. Given our expertise in many industries and the knowledge that we have gained over the years, we know that some of the most important opinions come from real customers. That is why we have allocated so much of our overall rating to the voice of our validated customer reviews. The Consumer Reviews Score is broken down into three metrics:
- The Average User Score
- Total Number of Reviews
- Total Number of Reviews in the last 12 months
These 3 metrics not only help us understand what consumers are saying, they also help us gain an understanding of volume and recency. All of which are critical to understanding the value of a company in the eyes of the consumer.
Note: this is different from the user score that is displayed on each company profile. The “user score” that is publicly displayed is the average of all user scores published for a given profile.
User Review Moderation
In order to prevent fake and misleading user reviews, BestCompany.com has a review moderation team specifically assigned to moderating all user reviews for all companies listed on the site. This team follows a very specific and strict moderation process that has been designed by gathering learnings from mistakes other major review sites have made in the past.
This moderation process involves a “flag” system where a flag is assessed for each negative attribute associated with a user review. Too many flags result in a disapproval of a user review. Some of the things our moderation staff looks for and assigns potential flags to include:
- Email address verification of the user
- IP address duplication and region check
- User review semantic verification
- Is the user an employee of the organization?
- Is the user associated with a competitor of the organization?
- Foul language of any kind
- Relevance of the content pertaining to the company and the review
As you can probably tell, we take our user review moderation process very seriously. We believe accuracy and authenticity is critical when it comes to user reviews, and as a result we are constantly finding new ways to evolve our user moderation process to make it better. Please note that while we do our best to manually moderate each and every user review, mistakes can be made; however, our dedication to resolving errors in our process is what sets us apart from other review sites in the industry.
20% Expert Review
Along with the criteria points mentioned above, we take into account a variety of other factors that help determine the viability, stability and trustworthiness of a company. As experts, we conduct an extensive research process specifically tailored to each industry that considers many additional factors including:
- Financial Standing of the organization
- The number of industry experts and professionals on staff
- The company’s ability to scale
- Historical revenue/growth
- Past and current lawsuits
- Customer service and transparency
- And much more.
We consider this Expert Review process a vital component of how we rank and review companies. As a result, the factors included are always changing, adapting, and updating. We also reserve the right to voice our expert opinions as a part of each review.