Custom Questions on the
2014 GlobeScan RADAR
March 2014
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For more information, contact:
Chris Coulter
CEO
Chris.Coulter@GlobeScan.com
The research questions and results reported herein are provided on a
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findings in whatever manner it chooses, including releasing them to the
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Project: 3135, GlobeScan®
April 2014
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2
Notes to Reader
3
•
Results are based on telephone interviews conducted among 1,000 adult respondents
in Canada between January 10 and February 18, 2014.
•
Please note that all figures in the charts and tables included in this report are
expressed in percentages unless otherwise indicated. Total percentages may not add
to 100 because of rounding.
Summary of Results
4
•
Credit union customers tend to have the same top-of-mind concerns as other Canadians,
although when prompted they rate poverty and the environment as more serious challenges
(while being less concerned than others about a range of other issues).
•
Credit union customers strongly distrust global and national large companies; although all
Canadians express negative net trust in business, credit union customers are far more
distrustful than others.
•
Banks and financial services companies are also distrusted by credit union customers; more
than half say they do not trust companies in this sector, compared to 35 percent of others
saying the same.
•
Credit union customers are more likely than others to call for increased regulation of banks
and financial services companies, in line with their distrust of the industry.
•
Credit union customers are slightly more likely to call for banks and financial institutions to
reduce service charges and interest on loans, and to operate ethically, when asked what
issues should be prioritized.
•
There are no differences between credit union customers and non-customers in terms of
attitudes toward ethical consumerism.
Most Important National Problem
Unprompted, Credit Union Customers vs
Non-Credit Union Customers, 2014
18
Economic problems
12
11
Environmental problems
12
12
Political problems
Health issues / health care
7
Education
10
10
11
Unemployment
Moral decay
22
5
1
2
Poverty/homelessness
1
Taxes
1
Credit union
customers
3
6
Non-credit union
customers
2
Q1t. What do you think is the most important problem facing our nation today?
5
Economic problems are top-ofmind for all Canadians, but credit
union customers are slightly less
likely than other Canadians to
spontaneously mention the
economy or poverty and
homelessness when asked about
the most important problem
facing Canada.
Seriousness of Challenges to Society
“Very Serious,” Credit Union Customers vs Non-Credit
Union Customers, 2014
Poverty/homelessness
48
Environmental pollution
49
Crime/violence
41
38
37
Education
Online data security/privacy
47
34
Rising cost of food/energy
51
34
Lack of social security
Unemployment
29
Economic problems/uncertainty
28
Human rights
Economic inequality
15
23
43
When prompted to rate
different challenges, however,
credit union customers tend to
rate poverty and homelessness,
as well as environmental
problems, as more serious than
do others. However, this group
tends to rate several other
issues as significantly less
serious than do non-credit
union customers.
36
28
28
27
31
26
34
Violation of workers’ rights
6
55
54
52
49
48
Health care
Gender inequality
56
39
Credit union
customers
Non-credit union
customers
Q3t. I am going to read you a list of
possible challenges in our society. For
each, please tell me how serious a
challenge you think it is
Trust in Companies
Net Trust,* Credit Union Customers vs
Non-Credit Union Customers, 2014
-15
Large national companies
Global companies
-1
-60
-19
Credit union
customers
Non-credit
union
customers
Credit union customers are
extremely distrustful of
global companies, compared
to the general population.
This group also tends to
distrust large Canadian
companies.
*Net trust equals “a lot of trust” and “some trust” minus “not much trust” and “no trust at all”
4t. Please tell me how much you trust each of the following institutions to operate in the best interest of our
society. Would you say you have a lot of trust, some trust, not much trust, or no trust at all in…?
7
Trust in Banks and Financial Services Companies
Credit Union Customers vs Non-Credit
Union Customers, 2014
A lot of trust (5)
Credit union customers
Non-credit union customers
6
8
17
4
3
2
23
23
No trust at all (1)
34
34
DK/NA
19
21
1
14
Credit union customers are much more likely than others to say they
do not trust banks and financial services institutions.
8t. Please tell me how much you trust each of the following types of companies. In answering, please use a scale from 1 to 5,
where 1 is “no trust at all” and 5 is “a lot of trust.” How about [dt. Banks and financial services companies ]…?
8
Perceived Need for Regulation of the
Banking / Financial Services Industry
Credit Union Customers vs Non-Credit Union Customers
2014
Too much
government regulation
Credit union customers
Non-credit union customers
About the right amount
of government regulation
5
7
Not enough
government regulation
47
DK/NA
46
55
2
37
Consistent with their distrust of banks and financial services companies, Credit union
customers are more likely than others to call for increased regulation of the industry.
9t. For each of the following types of companies, please tell me if you think our government does too
much, about the right amount, or not enough in regulating their activities to ensure the health and
safety of society. What about [dt Banks and financial services companies]…?
9
1
Most Important Issue the Banking / Financial
Services Industry Needs to Address
Credit Union Customers vs Non-Credit Union Customers
2014
Reducing service charges /
high interest on loans
17
Operating ethically
12
Better customer service /
online service
4
More loans/credit for small
businesses / consumers
Quality financial
products/services
10
13
4
4
0
4
Credit union customers have similar
priorities as other Canadians when
asked what issues banks and
financial institutions should
address, although they are slightly
more likely to call for reduced
service charges and interest on
loans, and ethical operations. Credit
union customers are less likely than
others to point to profits and greed
as a key issue.
4
4
Responsible lending
Regulation/restructuring/
surveillance of banking…
Supporting
charities/communities
Low interest rates for
deposits
16
6
6
Profits/greed
22
3
4
3
0
1
Credit union customers
Non-credit union
customers
5
13t. And what about the
Banking/Financial Services industry –
what is the most important issue it needs
to address?
Ethical Consumption
“Strongly Agree,” 2014
Believe we need to consume less to preserve
environment for future generations
66
65
Prefer to buy environmentally friendly products to
ordinary ones
54
52
Encourage others to buy from
socially/environmentally responsible companies
46
44
Willing to pay more for socially/environmentally
responsible products
35
39
Think people exaggerate the seriousness of
environmental problems
16
12
15
14
Feel guilty about my negative impact environment
13
14
Shopping for new things excites me
Believe individuals cannot do much to save
environment
In order to be happy I need a lot of material
possessions
11
Credit union customers
and other Canadians
exhibit very similar
attitudes toward ethical
consumption.
10
9
3
1
Credit union
customers
Non-credit union
customers
28t. Please tell me if you
strongly agree, somewhat
agree, somewhat disagree, or
strongly disagree with each of
the following statements.
Ethical Consumption: Segmentation
Consumer segmentation, 2014
38
Aspirationals
42
45
Advocates
Practicals
Indifferents
12
40
10
6
Credit union
customers
7
13
Non-credit union
customers
Credit union customers
are more likely to fall
into the Advocates or
Practical segments , but
are less likely to be
Aspirationals or
Indifferents.
Appendix: Demographic Analysis
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Summary of Results
• More than one in ten Canadians (13%) use a credit union as their primary financial
institution.
• Canadians are more likely to be using a credit union as their primary financial
institution than any other type of bank except chartered banks.
• Credit union use is highest among:
‒ Those in Western Canada (and especially in Manitoba + Saskatchewan)
‒ Canadians with average levels of income
‒ Canadian females as opposed to males
• Conversely, credit union use is lowest among:
‒
‒
‒
‒
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Those in the Atlantic provinces and Ontario
Young adults (18 to 24 year-olds)
Canadians with the lowest levels of income
Canadian males as opposed to females
Type of Financial Institution Used
for Day-to-Day Banking Needs
2014
Chartered banks
75
Credit unions
13
International banks
2
Internet-based
2
Virtual banks
2
Don't know / No answer
While three-quarters of
Canadians use a
chartered bank as their
primary financial
institution, more than
one in ten use credit
unions primarily.
6
CU1. What type of financial institution do you primarily use for your day-to-day banking needs
(chequing, deposits, bill payments, mortgage)?
15
Type of Financial Institution Used
for Day-to-Day Banking Needs
By Gender, 2014
78
Chartered banks
73
12
Credit unions
Internet-based
International banks
Virtual banks
Don't know /
No answer
14
3
2
1
2
1
Male
2
Female
4
7
CU1. What type of financial institution do you primarily use for your day-to-day banking needs
(chequing, deposits, bill payments, mortgage)?
16
Canadian women
are slightly more
likely than men to
bank with credit
unions. Canadian
men are more likely
than women to be
using chartered
banks.
Credit Union Use by Age
2014
65 years+
15
55 to 64 years
13
45 to 54 years
11
35 to 44 years
14
25 to 34 years
14
18 to 24 years
There is no obvious trend
in credit union use by
age, though the youngest
respondents are the least
likely to bank with credit
unions—they are the
most likely age group to
be using Internet-based
banks.
10
CU1. What type of financial institution do you primarily use for your day-to-day banking needs (chequing,
deposits, bill payments, mortgage)? 05 Credit Unions
17
Type of Financial Institution Used
for Day-to-Day Banking Needs
By Age, 2014
Chartered
banks
International
banks
Virtual banks
Internetbased
Credit unions
65 years+
78
1
0
1
15
55 to 64 years
76
2
2
1
13
45 to 54 years
78
1
3
2
11
35 to 44 years
76
2
1
2
14
25 to 34 years
70
4
2
4
14
18 to 24 years
76
0
1
5
10
CU1. What type of financial institution do you primarily use for your day-to-day banking needs
(chequing, deposits, bill payments, mortgage)?
18
Credit Union Use by Province/Region
2014
Prairies
30
Alberta
21
British Columbia
21
Quebec
10
Ontario
Atlantic
8
Those in Western
Canada are far more
likely than those east of
Manitoba to be using
credit unions. Credit
unions have particularly
strong penetration in
the Prairie provinces.
7
CU1. What type of financial institution do you primarily use for your day-to-day banking needs (chequing,
deposits, bill payments, mortgage)? 05 Credit Unions
19
Type of Financial Institution Used
for Day-to-Day Banking Needs
By Province/Region, 2014
Chartered
banks
International
banks
Virtual banks
Internetbased
Credit unions
British Columbia
67
4
1
3
21
Alberta
73
1
0
4
21
Prairies
60
0
2
3
30
Ontario
83
2
2
3
8
Quebec
74
0
1
1
10
Atlantic
80
5
3
1
7
CU1. What type of financial institution do you primarily use for your day-to-day banking needs
(chequing, deposits, bill payments, mortgage)?
20
Credit Union Use by Income Level
2014
Very high
11
High
11
Average
21
Low
Very low
11
Credit unions appear to
appeal most to Canadians
with average income
levels. Average income
respondents are the least
likely income group to be
using chartered banks.
8
CU1. What type of financial institution do you primarily use for your day-to-day banking needs (chequing,
deposits, bill payments, mortgage)? 05 Credit Unions
21
Type of Financial Institution Used
for Day-to-Day Banking Needs
By Income Level, 2014
Chartered
banks
International
banks
Virtual banks
Internetbased
Credit unions
Very high
76
2
2
8
11
High
78
2
3
4
11
Average
71
2
2
2
21
Low
80
0
1
1
11
Very low
85
1
1
0
8
CU1. What type of financial institution do you primarily use for your day-to-day banking needs
(chequing, deposits, bill payments, mortgage)?
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