SAN FRANCISCO - December 14, 2010
Wells Fargo is once again ranked No. 1 in the American Customer Satisfaction Index, an independent survey of consumer satisfaction of the largest banks in the U.S. conducted in the third quarter of 2010. This marks the second year that Wells Fargo and Wachovia scored the highest among the largest banks as a combined company. Before the merger with Wells Fargo, Wachovia scored the highest in the industry eight years in a row.
“Our team members are the reason for this recognition and truly are our competitive advantage,” said CEO John Stumpf. “It’s rewarding to be recognized for delivering a great customer experience while working through the largest bank merger in history and navigating through a challenging economic environment. Yet our most important feedback comes directly from our retail customers who show us their satisfaction by trusting us with more of their business. I want to take this opportunity to thank our customers for choosing Wells Fargo as their financial services provider.”
For the third quarter of 2010, Wells Fargo reported record retail bank household cross-sell of legacy Wells Fargo products of 6.08 products per household. Retail bank household cross-sell of Wachovia products continued to grow, at 4.91 products per household in the third quarter.
“I’m extremely proud of our team members for continuing to deliver the level of service that shows our customers how much we care and for receiving this recognition for their great work,” said Carrie Tolstedt, head of Community Banking. “Providing a consistent and exceptional customer experience is one of the best ways we can achieve our company’s vision of satisfying all our customers’ financial needs and helping them succeed financially. As always, we will continue to look for ways to improve our service.”
About the ACSI
Developed by Claes Fornell at the University of Michigan Ross School of Business, the ACSI provides an independent measure of how satisfied U.S. customers are with the quality of consumer goods and services. Each quarter, ACSI reports customer satisfaction scores for different sectors of the economy. For more information on the ACSI, go to www.theacsi.org.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.