In the Fall of 2009, consumers were asked to indicate the maximum amount of time they would be willing to travel to keep the same banking provider if the banking branch that they use most often were to close. 

Over one-half (56%) reported that if their primary branch were to be closed, they would find a 10-minute travel to another branch acceptable to keep the same bank provider. 

In contrast, one out of 10 (11%) of all households indicated that none of the drive times listed would be acceptable and they would switch banking providers.

To order the full report , click here.

About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

| Comments (RSS) |