2020 New York Banking Choice Awards

The Banks That Do It Best

The prestigious Banking Choice Awards are presented annually by American Business Media, publishers of “Banking New York,” and Rivel Banking Benchmarks.

The Banking Choice Awards are based upon the results of the Rivel Banking Benchmarks, the largest and most comprehensive measure of banking customer experience in the world. The benchmarks are conducted independent of any financial institution biannually by Rivel (www.rivel.com), the marketing and investment community research firm and pioneer in the online measurement and tracking of customer experience for banking institutions.

2020 Winners

Western New York

Overall Quality

Steuben Trust Company
Bank of Holland
Cattaraugus County Bank
4.
Alden State Bank
5.
Evans Bank

Community Contribution

Cattaraugus County Bank
Bank of Cattaraugus
Lake Shore Savings Bank
4.
Alden State Bank
5.
Evans Bank

Central New York

Overall Quality

The Delaware National Bank of Delhi
Evans Bank
Generations Bank
4.
Tioga State Bank
5.
Tompkins Bank of Castile

Community Contribution

The Delaware National Bank of Delhi
Wayne Bank
Tompkins Trust Company
4.
Solvay Bank
5.
The Canandaigua National Bank and Trust Company

Capital Region New York

Overall Quality

Glens Falls National Bank and Trust Company
Bank of Greene County
Saratoga National Bank and Trust
4.
Ballston Spa National Bank
5.
The National Bank of Coxsackie

Community Contribution

Glens Falls National Bank and Trust Company
Adirondack Trust Company
Bank of Greene County
4.
Saratoga Natioal Bank and Trust
5.
Ballston Spa National Bank

Mohawk Valley—North Country New York

Overall Quality

Watertown Savings Bank
The North Country Savings Bank
Adirondack Bank
4.
Community Bank
5.
Glens Falls National Bank and Trust Company

Community Contribution

Watertown Savings Bank
Carthage Savings and Loan Association
Adirondack Bank
4.
The North Country Savings Bank
5.
Citizens Bank of Cape Vincent

Hudson Valley New York

Overall Quality

Walden Savings Bank
Jeff Bank
Wallkill Valley Federal Savings and Loan Association
4.
Sawyer Savings Bank
5.
Wayne Bank

Community Contribution

Rondout Savings Bank
Jeff Bank
Rhinebeck Bank
4.
Sawyer Savings Bank
5.
The Westchester Bank

New York City

Overall Quality

Investors Bank
Alma Bank
Maspeth Federal Savings and Loan Association
4.
Ridgewood Savings Bank
5.
New York Community Bank

Community Contribution

Country Bank
Spring Bank
Citibank
4.
Carver Federal Savings Bank
5.
Maspeth Federal Savings and Loan Association

Long Island

Overall Quality

BNB Bank
The First National Bank of Long Island
Apple Bank
4.
New York Community Bank
5.
Ridgewood Savings Bank

Community Contribution

The First National Bank of Long Island
New York Community Bank
American Community Bank
4.
BNB Bank
5.
Gold Coast Bank

Selection Criteria

Bruce Paul, Rivel’s managing director, said, “The Rivel Banking Benchmarks, part of our CXLign division, help banks increase revenue by giving them a clear, objective view of what their customers really think of them. We eliminate the bias of internal bank surveys in which happy customers are five times more likely to respond than unhappy or ambivalent ones, thus creating skewed (and unrealistic) results. We put your ratings in context, showing the banks exactly how their scores compare to those of their competitors within their local trade area – not to an irrelevant basket of similar-sized banks from other parts of the country.”

The Rivel Banking Benchmarks were developed by Paul, one of the most respected experts in banking research who developed the CX tracking and brand research programs for seven of the top 15 North American banks. The Benchmarks use the same best-in-class approach used to build the CX programs for the world’s largest banks, now provided to community banks at a small fraction of the cost.

“We strongly believe that customer loyalty is a bank’s primary asset. To improve that loyalty, you must measure and track it. The Benchmarks therefore enable banks to understand exactly what their customers and prospects think of them, their people, their channels, and their products so banks can make customer-centric decisions to grow their business,” added Paul.

In New York, 17,147 interviews were conducted for a total of 195,552 reviews with 580 institutions represented.

Survey respondents are part of a statistically representative sample of households and businesses in each state. The total respondent pool is representative by geography, gender, income, ethnicity, and age profile of the state, based upon the most recent government census. Given the large sample size, the results are also representative of household penetration and business penetration of each banking institution within each state.

The survey is double blind: respondents are not told the subject of the interview beforehand, and we do not know which banks they use before initiating the interview. This approach minimizes bias and provides the most objective results possible.

The Customer Experience Benchmarks ask respondents to evaluate up to 53 different metrics about each institution they use for banking services. These include the following metrics used for the Banking Choice Awards: overall quality, customer service, tools & technology.

The Prospect Brand Benchmarks ask respondents about their impressions of banks they do not yet use. These marketing and brand metrics include community contribution, measured in the Banking Choice Awards.

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