Posts Tagged ‘Customer Relationship’
Interview with Bo McDonald
Clearly, no brand should exploit the Coronavirus pandemic, but what can banks and credit unions now do to demonstrate authenticity? I love stats, so let me start with that. According to a recent consumer study from Vision Critical, 91% of consumers value honesty in the brands they do business with, and 63% choose brands who…
Read MoreRetail Checking Realities
Forty percent of retail checking relationships are unprofitable, so crafting retail checking accounts that deepen customer relationships, drive deposit growth, and enhance the bottom line is a challenge faced by most financial institutions. How can bank leaders tackle this issue?
Read MoreEdging Out the Competition
Learn how American State Bank of Iowa’s mobile coupon app is a win for customers, local businesses and the bank itself. See the latest Main Street Focus article of IB Magazine.
Read MoreThe Profitability of the Average Checking Account
Maintaining a customer’s checking account costs your financial institution money. The American Bankers Association estimates the annual cost to a bank to maintain a checking account is between $250 and $400 per year. For community financial institutions with less than $5 billion in assets, the average according to other researchers is closer to $250 to $300.
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