WE once heeded the advice of an economist who told us not to start a boycott. Now, we’re glad we did – there is plenty of opportunity here, YES:
60% of people who broke up with their bank did so for poltiical reasons.
“Zogby Interactive: 32% Have Considered Moving Funds To Protest Big Bank Policies or Behavior, 9% Have Already Done So Due to Big Bank Policies.
Public unhappiness with the policies and behavior of large national banks has the potential to shift business away from them to local banks and to credit unions.
That is a conclusion that can be drawn from a Zogby Interactive survey of 2,068 U.S. adults conducted from Feb. 17-19, 2010. The poll has a margin of error of +/-2.2%.
Here are the main findings of the survey:
* 37% of adults consider a “major national bank” as where they do most of their banking.
* 32% of U.S. adults say they have “considered moving some or all of (their) banking from a large national bank to a community bank or credit union because (they) are unhappy with the policies or behavior of large national banks.”
* 14% have moved some of their banking in the past year from a large national bank to a community bank or credit union.
* 9% of all U.S. adults have moved some of their business from large national banks as a protest….We then asked: In the past year, have you moved any of your banking from a large national bank to a community bank or credit union? Fourteen percent of adults answered yes to this question.
Those who answered yes were asked why they had done so, and were provided four options: (1) Better rate of return; (2) Convenience; (3) Lower service charge; (4) To protest policies or behaviors of large national banks. They could choose more than one reason.
To protest policies or behaviors of large national banks had the highest response with 60%, which was 24 points more than that of any other reason.”
Archein