Good news and perhaps a bit of a surprise came in the announcement that USAA® took top honors in Customer Experience. In a press release posted on its website,United Services Automobile Association (USAA) announced results of an independent survey conducted by Forrester® Research, Inc. placing USAA at the top of the class of 160 brands in 13 different industries.

In a day when the economy is struggling and anyone associated with the banking industry is regarded with suspicion and perhaps dislike, a financial services leader, USAA, broke the 4-year long string of retailers snaring the top spot.

According to USAA’s web site, the Forrester’s Customer Experience Index showed USAA “had the highest scores among all other brands in each of the three industry sectors in which it was evaluated: banking, credit cards and insurance.” On a scale of 100, USAA’s banking services were rated an impressive 89 while the industry’s average was 70. Repeating this type of performance, USAA’s credit card services were rated 84 in comparison to the industry average of 67. USAA’s insurance arm scored 83 with the industry average hitting the 70 mark.

Back in 1922, USAA was originally founded by a group of 25 US Army officers and was born of their inability to purchase auto insurance. The group of officers, classed as “high risk” by standard insurance companies, determined to insure each other’s vehicles and formed what has grown to be one of the nation’s most respected companies. USAA joins companies like Google™, Dreamworks®, Edward Jones®, and REI® in the top 20 of FORTUNE’s “100 Best Companies to Work For®,” and that’s the second year in a row USAA’s earned that honor. Consumer Reports National Research Center also recently recognized USAA’s brokerage services as gaining highest honors in customer satisfaction.

Today, USAA offers a full-range of financial services to it more than 8 million members, who are all members of the military or military families. A few of the products and services offered to members include banking services such as checking, savings, CD’s, and auto, home, or personal loans; insurance for auto, home, or life; investment services such as mutual funds, brokerage, or managed portfolios; and retirement services such as IRAs or annuities. The USAA website is jam-packed with interactive tools to help members manage their banking or investments and plan for the future. Members have access to tools in helping them find a new home or the best deal on new car. Several rewards programs are offered through USAA that include extra points on credit cards or additional discounts at the car dealership.

The company’s mission statement indicates the goal of USAA is “to facilitate the financial security of its members, associates, and their families through provision of a full range of highly competitive financial products and services.” Forrester Research’s report certainly attests to the fact that USAA has done well at holding true to its mission and to the values of service, loyalty, honesty and integrity on which the company was founded.

American Express Canada was honored with the 2011 Service Quality Award of Excellence for its customer service call centres, according to a recent press release on the American Express Canada website. The award recognizes the highest level of customer satisfaction among credit card companies not only in Canada, but in all of North America.

The Service Quality Award of Excellence is an annual award presented by Service Quality Measurement, “an industry-focused research firm that tracks, benchmarks and recognizes over 450 leading North American call centres.” Based on on over one million surveys of customers who have contacted a call centre, American Express Canada’s receipt of the award is a benchmark achievement.

“We’re honoured to be recognized by our own customers for providing outstanding value and service,” says Andrew Carlton, General Manager and Vice President, World Service at American Express Canada

American Express Canada states it has offered exceptional customer service for 158 years. Like the rest of the American Express group, American Express Canada embraces the “Relationship Care℠” program.

This unique approach to customer service recognizes it’s the customer’s voice which is important in determining offerings and services of the company. American Express trains its call centre personnel in how to listen to the customer and provide support that is focused on the individual consumer. This means customer service calls are unique and do not follow a set script nor are customer care professionals limited in the amount of time they can spend on a cardholder phone call. When an American Express cardholder phones in, the customer care professional is not only committed to helping the individual with his or her question, but also goes the extra mile to explain benefits that the American Express card has which fit into the lifestyle of that particular customer.

American Express is so committed to connecting with cardholders through its Relationship Care and its “Recommend to a Friend” programs that American Express employees are able to earn percentage of pay incentives based on the satisfaction of cardholders who call in. “Every time a customer calls us, we view it as an opportunity to deepen our relationship with them,” says Carlton.

It’s not surprising that American Express Canada has earned the 2011 Service Quality Award of Excellence. This is another plaque on the wall of recognition for outstanding performance in customer service. The American Express company in North America has been recognized as a top recipient of customer satisfaction awards by JD Power and Associates for five consecutive years and Forrester Research has also rated American Express highest on its Customer Experience Index for credit card providers.

“If there’s one constant throughout the history of our company, it’s our focus on service,” says Carlton. “It is our top priority to make each customer experience personal, and it’s our Customer Care Professionals that deliver on this promise.”

Last week, J.D. Power and Associates released their 2009 Credit Card Satisfaction Study with results of what customers really think about credit card issuers. The results weren’t surprising as most customers this past year have seen rate increases, fee increases, credit lines slashed or accounts closed completely. As a result of the economy, credit card issuers have been forced to cover rising defaults and losses. Customers haven’t responded well to the recent changes and credit card issuers have seen their customer satisfaction ratings plummet.

In fact, the J.D. Power and Associates survey found that the customer satisfaction level has reached a three-year low. Michael Beird, J.D. Power and Associate’s director of banking, said, “Overall satisfaction declines 86 index points when a customer incurs a late fee. Issues with fees also contribute to the high incidence of problems and complaints in 2009, with 18 percent of customers reporting problems, compared with 10 percent in 2008.”

In 2008, only 10 percent of customers reported that their fees and rates were increased. That number has almost doubled in one short year. That’s right…20 percent of credit card customers now say that they have seen an increase in credit card fees and rates. But, does the type of customer affect satisfaction?

Absolutely.

The survey found that those who are among the unhappiest are those credit card holders who do not pay off their credit cards in full each month. Credit card customers who carry a balance from month to month gave credit card companies the lowest ratings. American Express ranked highest in customer satisfaction for the third straight year with an index score of 761. Discover Card and National City came in second and third with index scores of 751 and 740, respectively.

So, what have these companies all done well? Customers reported being satisfied with credit card companies when they received consistent communication from the creditor. Even when a fee or rate increase did occur, customers reported being satisfied 97 percent of the time when they received notification of the increase beforehand.

Although customers are not overly satisfied with credit card companies currently, there is one thing credit card issuers can do to keep customers happy. Communicate. Credit card companies need to keep their customers informed and customers need to do their part by staying informed. Customers can actively participate in the communication process by researching different credit cards and educating themselves before applying.

Surely, the level of overall credit card satisfaction will increase when well-informed customers team up with credit card companies who communicate.

Have you had a good or bad experience with your credit card issuer this past year? Give us your feedback.