Most Feel Their Banks Have Strong Policies
June 16, 2020
Discrimination in the United States is a huge concern with 76% of Americans believing racism is a big problem (up from 51% in 2015). A survey of our readers suggest community banks and credit unions are facing the issue head-on.
In our weekly newsletter, we asked these questions:
What the survey showed across the 10 states our publications cover is 81% of those responding believe their financial institutions are among the leaders in combatting discrimination.
A similar volume of responses was received for the question of banks needing to “walk the walk” through hiring and outreach and the belief that most banks’ policies are good but the staff’s composition doesn’t reflect their communities. Both answers received 7% of the votes.
What could be most encouraging is the small number of respondents who think despite good policies, discrimination still exists. Only 4% of the answers held that belief.
It’s important to note this is an unscientific survey. It was not weighted for demographic balance.
Photo credit: Karen Eliot via Flickr
The Bottom Line
Most financial institutions have tremendous excess capacity in their existing branches today.
“How many of the community banks here believe their customer service is average or below average?”