The zip code search tool has been updated and refined and now includes two thirds of the banking industry. Over half the country’s zip codes have been searched since the site went up a week and a half ago. Dennis Santiago, IRA’s CEO and Marketing Director, has been talking to bankers around the nation who report that the campaign is having a real impact, he writes on the Huffington Post:
- According to the IRA databases, we’ve determined that the MYM tool includes just under 5,100 small and mid-size banks and excludes just under 2,800. That means two thirds of the banking industry is being acknowledged as worthy of the public’s consideration by the system. These bankers are energized! Many literally start the phone call saying it’s like a new ray of hope has arrived for the industry. And they say it whether their bank is listed or not. Sometimes they’ll help by anecdotally confirming that the list is indeed identifying good banks in their operating areas. And who should know if a list of good banks is right if not the bankers in that area themselves? All I can say is thanks so much for helping.
How much of an impact is it having? Nearly 70 percent of those polled by American Banker say that the big banks’ bad reputations might be enough to drive people to smaller institutions.
Subscribe to our RSS feed
This is populism at its purest. Big Banks need to be sent this message and America will be a stronger place if enough Americans make the move.
Thanks for making it that much easier to severe ties with those who have a stranglehold on our economy.
I know you provide a link to the credit union search, but I would love to see you put the credit union search right on your bank search page and give it equal billing. I’m glad to see Ms. Huffington is now saying “banks and credit unions” instead of just “banks” in her television appearances.
There is even a problem with small local community banks. They usually won’t lend money unless you have a lot of money and especially deposited in their banks. While I can’t stand my “new” big bank, they have given me loans when I needed them and could afford them.
I do belong to a credit union where I can get car loans.
How is this good news for credit unions? I will be happy once IRA has included credit unions in their zip code search tool. I also think that you should be encouraging people to move their money to credit unions before community banks for the reasons in this (my) article – http://www.creditunions.com/article.aspx?articleid=3440