An Online Survey Among Michigan Adults Survey Results Prepared by: September 27,

Consumer Study was conducted first time by MCUL. The data was collected through the online survey between August 20 and August 30, 2010 with Michigan residence of age 18 and over (419 Bank Customers and 409 Credit Union Members). The research found out that: CU members are highly satisfied with the relationship they have with their credit unions. Compared to bank customers, CU members are much more positive about their primary financial institution. Over 6 in 10 CU members they have an outstanding relationship with their financial institution (give a rating of 9 or 10 on a 10 point scale), while bank customers show much lower levels of satisfaction, only 3 in 10 bank customers say the same about their financial institutions. Compared to one year ago, Michigan adults are twice more satisfied with their credit unions than bank customers with their primary financial institutions. Michigan CU members have significantly more confidence and trust in their financial institution compared to bank customers. More than three-quarters (76%) of CU members are absolutely confident that their financial institution is the best place for their financial needs compared to one third of bank customers (31%). Two thirds (67%) of CU members trust entirely that their financial institution operates with the customer’s best interest in mind compared to just less than a quarter (21%0 of those bank customers. CU members are significantly more likely to recommend their financial institution to others. Twice more Michigan CU members (64%) say they would definitely recommend their financial institution to a friend, family member or co-worker compared to bank customers (31%). 7 in 10 CU members have made at least one recommendation in the past two years. Word of mouth referrals and attractive interest rates influenced CU members to select their financial institution significantly more than bank customers. Credit unions members have more loyalty towards their financial institutions than bank customers. 7 in 10 Michigan CU members will definitely not switch primary financial institution in the next year while only 3 in 10 bank customers are saying it about their banks, thus reporting less loyalty to their financial institutions. Lower fees and better customer service are the top reasons for considering a switch. CU members give their financial institution higher ratings compared to bank customers for quality of service, overall value, problem resolution, more transparency, trust, and being involved in community events.

CU members are highly satisfied with the relationship they have with their financial institution Over 6 in 10 CU members have an outstanding relationship with their financial institution (give a rating of 9 or 10 on a 10 point scale). Bank customers show much lower levels of satisfaction, with only 3 in 10 giving a 9 or 10 rating. Base: Use a bank or credit union Q865 Considering all aspects of your relationship with your primary financial institution, please rate your overall experience/satisfaction using a scale of 1 to 10 where 1 is Unacceptable and 10 is Outstanding. Overall experience/satisfaction (10 pt. scale) Total N=828 Bank Customers N=419 Credit Union Members N=409 Total N=828 Bank N=419 Credit Union N=409 (Rated 8/9/10) (Rated 9/10) Means

Compared to one year ago, Michigan adults are equally satisfied with their primary financial institution CU members are twice as likely to have experienced an increase in satisfaction over the last year (15% vs. 7%). Base: Use a bank or credit union Q870 Are you more satisfied, equally satisfied, or less satisfied with your primary financial institution than you were a year ago? Current satisfaction vs. a year ago 4 Total N=828 Bank Customers N=419 Credit Union Members N=409

CU members have significantly more confidence and trust in their financial institution More than three-quarters of CU members are absolutely confident that their financial institution is the best place for their financial needs, while only 3 in 10 bank customers share the same sentiment. Two thirds of CU members trust entirely that their financial institution operates with the customer’s best interest in mind compared to 2 in 10 bank customers. Base: Use a bank or credit union Q825 How much confidence do you have that your primary financial institution is the best place for your financial needs? Use a 4 pt. scale; 1=Not confident at all, 4=Absolutely confident Q830 How much do you trust that your primary financial institution is doing what is in the best interest for you/your household? Use a 4 pt. scale; 1=Do not trust at all, 4=Trust entirely Confident that primary financial institution is the best place for their financial needs (Top 2 Box) Trust that primary financial institution is doing what is in the best interest for their household (Top 3 Box) 5 Total N=828 Bank Customers N=419 Credit Union Members N=409 Total N=828 Bank Customers N=419 Credit Union Members N=409

CU members are significantly more likely to recommend their financial institution to others Compared to bank customers, CU members are twice as likely to say they definitely would recommend their primary financial institution (64% vs. 31%). 7 in 10 CU members have made at least one recommendation in the past two years. Banking customers are significantly less likely (less than 6 in 10) to have recommended their institution. Base: Use a bank or credit union Q875 Would recommend your primary financial institution to a friend, family member, or co-worker? Q880 How many times in the past two years have you actually recommended your primary financial institution to a friend, family member, or co-worker? Would recommend to a friend, family member, or co-worker Times in the past two years have actually recommended 6 Total N=828 Bank Customers N=419 Credit Union Members N=409 Total N=828 Bank N=419 Credit Union N=409 Mean number of times: Total 2.3 Bank 1.9 Credit Union 2.9

7 in 10 CU members will definitely not switch primary their financial institution in the next year CU members are more than twice as likely as bank customers to say they definitely will not switch financial institutions in the next year (70% vs. 31%). Lower fees and better customer service are the top reasons for considering a switch. Base: Use a bank or credit union Q890 How likely are you to switch from your primary financial institution in the next twelve months to another one? Use a 4pt. scale; 1=Definitely will not switch, 4=Definitely will switch Base: Would consider switching from primary fin.institution in next 12 months Q895 Which of the following would be the main reason for you to switch from your current primary financial institution? Please select one. Likelihood to switch from primary financial institution to another in next 12 months 7 Total N=828 Bank Customers N=419 Credit Union Members N=409 8% 10% 5% Total N=57 Bank Customers N=41 Credit Union Members N=16 For lower fees/service charges 21% 19% 30% For better customer service1822- Does not offer the range of services I want10915 No convenient location to my home/work9105 Previous experience with another financial institution 911- For more free ATM locations555 Recommendation by friend/ relative/ colleague 45- For better rates45- Does not inform me of services and rate/fee advantages 22- For ''rewards'' programs or other benefits221 Inconvenient hours of operation01- Other reason16945 Main Reason for Considering a Switch