Forrester Research just issued a new report where they asked 4,500 customers at 50 banks if they agreed with the statement "My financial provider does what's best for me, not just its own bottom line."
Here are the 7 Least Trusted Banks:
7. Bank of America - 1 in 3 people agreed that B of A looked out for their best interest
6. Chase - 31% felt that Chase did what's best for the customer
5. Capital One - 29%
4. TD/Commerce - 28% trusted this Toronto-based bank
3. 5/3 (or 1 and 2/3 if you understand basic math) - 27%
2. Citi Bank - 26%
1. HSBC - 16% (10% lower than last year's score)
It should be no surprise that credit unions and community banks ranked significantly higher in this study.
If you have one of these mega banks in your market, you may be able to use this information to your advantage. If you don't know how, call me!
Take care,
Eric
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