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Consumers: Banks Are Bad, But My Bank is Good
Oct 8, 2008

I grew up in Maspeth Queens and at the center of that community was Maspeth Federal Savings and Loan, where many generations of neighbors have banked for decades.  Their reputation and loyalty is formed in trust and service from scores of great customer service people.  I was reminded of Ken Rudzewick, their CEO, who currently leads that bank and has served that community and their associates for over 50 years.  They are all about the community they serve and How they do What they do has been remarkable to watch over the years.

A MediaPost article writes about this very issue. Read Full Article This post points out that according to Morpace Inc. 71% of consumers are confident in their primary personal bank.  However only 44% have confidence in the financial strength of banks in general. This is a clear reflection of Trust and maintaining trust through how you serve and communicate with customers determines the duration of your relationship.

“Trust is a firm belief in the reliability, truth, ability or strength of someone or something.”- The New Oxford American Dictionary

Trust is at the center of any relationship. Why would anyone enter a relationship with someone they did not trust?  Isn’t trust a prerequisite for an engagement to occur?  Trust is the essential underpinning of any service relationship, so it follows that it is yours to preserve or lose.However, there are degrees of trust owing to factors like time, experience and behavior.  In a service relationship, you have the exceptional opportunity to reinforce and strengthen the trust bestowed upon you by how you do, what you do.  You must be consistently truthful, reliable and capable and, in so doing, you will preserve and build the trust of those you serve. Maspeth Federal Savings and Loan has done that since 1947.  Congratulations.



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