Thursday, May 30, 2024

Credit Unions top reputation ranking, RTÉ falls sharply

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The Credit Union is regarded by the public as the most reputable organisation in the country, according to the RepTrak report.

RepTrak examines the reputation of 100 well-known organisations and businesses in Ireland.

The report compiles the views of 5,500 members of the public, and is published by communications group The Reputations Agency.

The Credit Unions topped the annual ranking for the second consecutive year with an Excellent reputation score of 84.2 – the only organisation to achieve an excellent score this year.

Lidl Ireland took second place second with a strong score of 79.2, the retailer’s highest ever ranking in this study, jumping from 9th place in 2023.

Boots Ireland placed third with a strong reputation score of 79, jumping from 8th place in 2023.

RTÉ ranked 99th in the survey, the largest reputational decline over the last 15 years, which is a drop of 23 points from 67th place in 2010 to 99th place in 2024.

The most significant impact on the broadcaster’s reputation took place between 2023 and 2024 in the wake of the payments scandal, demonstrating the impact of weak corporate governance on reputation.

X, formerly Twitter, was the only organisation that ranked below RTÉ, securing the 100th position.

Uiscé Eireann, meanwhile, had the largest increase in reputation, improving by close to 44 points since RepTrak first started to track the company in 2015. The organisation has made significant strides in transforming its reputation and moving forward in its Workplace reputation in particular.

In the last 15 years, VHI’s reputation has increased by close to 34 points, moving up two reputational tiers from a weak reputation score in 2010 to a strong reputation in 2024.

Similarly, Virgin Media increased by 29 points from a weak score to a moderate reputation score this year.

An Post has had the strongest reputation score over the last 15 year, with an average score of 78. The organisation ranked in the Top Ten twelve times over the last 15 years.

An Post has been recognised for bringing its purpose to life in acting for the common good, improving the quality of life across every community in Ireland, and for its transformation towards a sustainable business, successfully delivering in a new world of eCommerce and financial services.

Niamh Boyle, CEO of The Reputations Agency, said, “Over the last 15 years we’ve learned a good deal about the power of reputation and how to harness this for client transformation and growth, grounded in world class measurement and strategy.

“We have closely studied the exemplars as they have a very special reputational DNA – they contribute to society, display great conduct in the way they run their businesses, offer the highest quality products valued by their customers and have strong leadership teams, well organised for success.”

Welcoming their first place ranking for 2024, David Malone, CEO of the Irish League of Credit Unions described it as a significant achievement for the credit union sector.

“It is a recognition of the role that we play in communities across Ireland and the trust and esteem in which people hold credit unions. We are delighted with the results, which positions us as a leader amongst the most prominent organisations and household names in Ireland.

“This recognition proves to us that our constant focus on improving both the face-to-face in branch experience and our digital and online engagements is delivering,” he said.

Speaking on their success over the last 15 years, David McRedmond, CEO of An Post, said the organisation has transformed to become a sustainable, commercial public service, with no recourse to state subsidy, successfully delivering in a new world of eCommerce and financial services.

“Central to this has been building our reputation with purpose-driven actions to ensure that we have a positive influence on society.”

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