Business

The Last Word

Zions Bank shines in national banking survey.

A. Scott Anderson Sep 1, 2017

At Zions Bank, we believe community involvement is key to our success. Strong, thriving, successful communities provide a fertile environment for a strong, thriving, successful bank. Everyone wins when our communities are vibrant and growing.

Community success is measured not by just jobs and economic growth, but also by excellent education and strong arts, cultural, and sports programs. Those things are synergistic and build on each other.

We seek to serve the communities where we operate with more than just financial services although such services play a vital role in keeping communities strong. Making credit available for business creation, business expansion, home purchases, and other consumer and business needs keeps our economy humming along.

We also support many community activities and encourage our employees to provide community service. We believe community involvement has made Zions a better bank.

Zions Earns Excellent Ranking

Recently, our efforts were recognized in a new survey conducted by American Banker and the Reputation Institute. Each year, American Banker commissions the Reputation Institute to conduct a survey of banks to measure how their reputations are faring, and then writes an article about the results.

This year’s article reported that the overall banking industry scored 70.8 on a 100-point scale, meaning it edged ever so slightly into the “strong” category. Its score had been “average” last year at 67.1.

Zions Bank’s overall score was 73.3, which was the 13th highest score in the nation and represented an improvement of 4.1 points from last year. Among customers, Zions had a score of 80.7, giving the bank an “Excellent/Top Tier” ranking. Among noncustomers, Zions’ score was 70.2, a “Strong/Robust” ranking.

Stephen Hahn-Griffiths, an executive vice president at the Reputation Institute, wrote, “While providing quality products and services is obviously important, it’s a company’s governance — or how it conducts business — that can make or break a reputation these days.”

The biggest influence in bolstering a bank’s reputation is its behavior, the survey confirmed, including engagement in community activities and service.

According to the article, the banking industry suffered a bit of a black eye in the last year as some employees at one large bank created fake accounts to increase their compensation. But while the reputation of that individual bank suffered, the reputation of the overall banking industry actually improved over the last year.

Banking Industry Moving Ahead in the Rankings

The Reputation Institute conducts surveys of other industries as well. This year’s results showed that banking moved ahead of some industries that enjoyed better reputations than banks last year. The banking industry ranked ahead of the health care and energy sectors, as well as the broader finance industry, which scored a 69.

The Reputation Institute survey rates banks in seven different categories. At Zions, we pride ourselves in excellent performance in every category: products and services, innovation, leadership, workplace, business performance, citizenship, and governance.

Our friends and customers can feel confident that they are getting the best service possible from Zions Bank. We are pleased that our efforts have been recognized and validated by the American Banker/Reputation Institute survey.
 

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