HAPPINESS DEPENDS ON WHERE YOU BANK

CONSUMERS WANT REWARDS, NOT FEES

STATE OF CONSUMER BANKING 2015

FINANCIAL CONFIDENCE VARIES BY AGE

AMERICANS VALUE TRADITIONAL BANKING

7 IN 10

ONLY 30%

ONLY 30%

14%

49%

Megabank customers

57%

70%

Americans73%

Millennials79%

Those age 55 and up67%

27%

SWITCHING NOT AS DIFFICULT AS IT SEEMS

YET 70%

61% 81%But 4 in 5 consumers (81%) who have switched say it was not difcult at all

OF AMERICANS HAVE NEVER SWITCHED BANKS

6 in 10 (61%) of those who have never switched believe switching would be at least somewhat difcult

31%

say monthly service fees

26%

say ATM fees

Whats important to consumers when choosing a bank?

ARE MORE OR HIGHER FEES A DISADVANTAGE OF WHERE YOU BANK?

MY CHECKING ACCOUNT IS FREE NO MATTER WHAT:

WHO FEELS IN CONTROL OF THEIR FINANCES?

IS YOUR BANK A PARTNER IN MANAGING YOUR FINANCES?

NEARLY 1 IN 2 AMERICANS WOULD SWITCH BANKS FOR HIGHER INTEREST RATES

2 IN 5 AMERICANS WOULD SWITCH BANKS FOR LOWER FEES

47%51%93%say few or no fees on checking and savings accounts

say rewards say cash back options

$$$

86%

of Americans would prefer to do at least

some banking in person

Americans dont trust online-only banks to look out for their best interests

believe its likely theyll no longer need to visit a physical bank location in 5 years

believe its likely theyll no longer use cash (paper bills and coins) to make purchases in 5 years

of Americans do not feel in control of their nances

About the survey: Online survey of 1,002 U.S. adults (ages 18+) commissioned by BancVue and conducted by Harris Poll, January 5-9, 2015.

* Consumers are dened as U.S. adults ages 18 and up who have a checking account at a nancial institution

** Community bank and credit union customers are those who consider a local community bank or a local credit union to be their primary banking institution

*** Megabank customers are checking account holders who consider one of the big national banks to be their primary banking institution

79%

83%

92% 70%

of consumers* feel positive about their primary bank

of community bank and credit union customers** feel their bank has their best interests at heart

But Local Banking Builds Better Relationships

of community bank and credit union customers see their bank as a partner in managing nances

As opposed to

57% of megabank customers.

of community bank and credit union customers believe their bank is open and transparent with changes

As opposed to only

78% of megabank customers.

As opposed to

60% of megabank customers***

of consumers feel satised with their bank

than community bank and credit union customers to feel scammed by bank fees(14% vs. 36%)

Megabank customers are

2 TIMES MORE LIKELY

Credit union/community bank customers

Megabank customers

Credit union/community bank customers

23%Megabank customers

7%Credit union/community bank customers

YES YES

65%

TOP TWO MOST HATED BANK FEES

YES