Credit unions top poll of most trustworthy financial service providers

The results of the poll suggest a noticeable 'age distinction in the preferences for traditional and modern forms of banking'.Fintech challenger banks like Revolut and N26 are the financial service providers in which Irish adults place the least trust while credit unions top the list of the most trustworthy, a new survey by Peopl Insurance.

Just over half of respondents said they had high levels of trust in their local credit union with only 8 per cent saying the opposite. However, the results of the poll suggest a noticeable “age distinction in the preferences for traditional and modern forms of banking”, Peopl said, with 77 per cent of those aged 18-24 placed a high trust value in fintechs, compared with just 8 per cent of over 55s.

“As a cornerstone of local communities throughout Ireland for generations, it’s perhaps unsurprising to find that credit unions and An Post garner such a high level of trust among the general public,” said Paul Walsh, chief executive of home and life insurance company Peopl, which operates through credit unions.

Source: Loan Digest (loandigest.net)

Newbridge one was very trustworthy

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