Surprise: new survey shows that banks' image has taken a hit


U.S. Banker

, a prominent industry magazine aimed at banking executives, has an interesting story in its July issue about a survey that recently was put out by J.D. Power & Associates.

Only 12% of more than 7,500 consumers surveyed were able to report that they had a completely satisfactory experience with their bank.

That's troubling for banks because the same survey -- which 25 banks participated in -- shows that when people choose a bank, they pick it based on the brand (36% voted for the brand being the number one attraction).

The bank brand is even more important than the convenience factor, as in how many bank branches there are, and where are they located (21% picked that). And it's far more important than the bank's actual services (14%).

Originally published