FinLedger published an article that references our Harris Poll survey noting that “a shift in consumer banking has made headlines for years, and now, the industry is seeing the numbers to back these claims up.”
They quote our CEO, Craig McLaughlin:
The survey shows that credit unions and community banks find themselves at a tipping point. The way community financial institutions respond to these challenges will determine the future of these organizations and, in many cases, the future of the communities they serve.
FinLedger goes on to examine similar trends in small business, quoting Kathryn Petralia, co-founder of fintech lender Kabbage about similar results in their studies. FinLedger also includes information from the Federal Reserve and the growing trend of community-based neobanks.
We encourage you to read this excellent article here.