People's United Bank

Report Card
A
Overall Grade
A-
Mortgages Grade
C
Bank Account Services Grade
People's United Bank is rated overall in the top 96 percentile (out of 100) based on 180 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits7.1
Complaints Resolved in a Timely Manner96.1%
Resolutions Disputed by Customer17.8%
Average Time Until ResolutionUnknown

Financial Report

Owner Corporation
EstablishedJuly, 1988
FDIC InsuredJuly, 1988
FDIC Certificate #027334
Number of Branches409
Total Assets$34.5 Million (35th)
Total Deposits$25.3 Million (34th)
Total Equity$4.7 Million (32nd)
Quartarly Net Income$66.6 Thousand (36th)

Contact Information

Corporate Headquarters
850 Main Street
Bridgeport, CT 6604
United Statesflag
Website
www.peoples.com
Data Summary
People's United Bank logo

Grade Summary

Overall, People's United Bank received a grade of "A" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. People's United Bank is rated "A-" in Mortgages, and "C" in Bank Account Services. Click on any of the financial products to see how People's United Bank compares.

Overview

People's United Bank has received 180 consumer complaints since March, 2012 – more than 94% of other banks.

Of those complaints, 96.1% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' People's United Bank meets the 60-day response deadline less frequently than 64.9% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 17.8% of customers dispute People's United Bank's response to complaints — better than 54.7% of other companies.

Most of People's United Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."

People's United Bank is primarily a savings institution with a commercial lending specialization. People's United Bank is based in Bridgeport, Connecticut and is the 35th largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, People's United Bank receives far more complaints than most other banks. People's United Bank recieves more complaints per customer than 97% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against People's United Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Bank account or serviceChecking accountAccount opening, closing, or management43
2Bank account or serviceChecking accountDeposits and withdrawals30
3Bank account or serviceChecking accountProblems caused by my funds being low27
4Bank account or service(CD) Certificate of depositAccount opening, closing, or management10
5Bank account or serviceChecking accountMaking/receiving payments, sending money9
6MortgageOther mortgageLoan modification,collection,foreclosure7
7Bank account or serviceOther bank product/serviceAccount opening, closing, or management6
8MortgageOther mortgageLoan servicing, payments, escrow account6
9Bank account or serviceChecking accountUsing a debit or ATM card5
10MortgageOther mortgageApplication, originator, mortgage broker5
Responses From People's United Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation157153 (97.5%)34 (21.7%)
2Closed with monetary relief1919 (100%)4 (21.1%)
3Closed97 (77.8%)2 (22.2%)
4Closed with relief77 (100%)0 (0%)
5Closed with non-monetary relief44 (100%)0 (0%)
6Closed without relief33 (100%)0 (0%)
7Untimely response10 (0%)0 (0%)
Complaints over the Past Year