SHEFFIELD — A new annual list of rankings compiled by the global media company Forbes has named North Alabama’s Bank Independent as the top financial institution in the state.
According to the bank, “exceptional customer service” and “community investment” played a large role in the corporation securing first place.
“Being named the top bank in Alabama by Forbes is a testament to the dedication and hard work of our team members,” said Rick Wardlaw, CEO of Bank Independent. “Our focus has always been on building strong relationships with our customers and communities.
“This recognition inspires us to continue striving to be the bank and employer of choice in the communities that we serve.”
To establish the rankings, Forbes partnered with market research firm Statista to survey approximately 26,000 U.S. residents.
According to a news release, participants were asked to name all the banks and credit unions where they currently have — and previously had —a checking or savings account and to identify financial institutions they know through the experiences of friends and family.
Respondents shared their level of satisfaction with the bank or credit union, their willingness to recommend it to others, and rated the organization on criteria such as customer service, the quality of financial advice offered by representatives, fee structures, ease of navigating digital services, accessing help at branch locations, and the degree of trust the financial institutions inspired.
Survey responses from the last three years were taken into consideration, with recent data and responses from current customers weighted more heavily than the older data and responses from former customers and friends and family.
Statista also collected online text reviews and ratings written between February 2021 and March 2024 for each bank and credit union, the news release said. The research accounted for 20% of the scoring, while the surveys accounted for 80%.
185 banks and 207 credit unions were ranked on the list in one or more states.
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