Bank Transfer Day makes a darn good headline.
But in fact, most consumers are extremely, very or at least somewhat likely to continue their existing relationship with their primary bank or credit union, according to a recent online poll of 2,463 adults by Harris Interactive.
Only 3 percent of respondents said they weren't at all likely to continue to use their current bank or credit union in the near future. The total for bank customers was 4 percent, while the figure for credit union customers was 2 percent. Either way, those are small numbers.
Other figures also support that conclusion.
Only 18 percent of bank customers said they were extremely satisfied, while 28 percent of respondents who belonged to a credit union said they were extremely satisfied customers. At the other end of the scale, 4 percent of bank customers said they weren't at all satisfied, while the figure for credit union customers was less than 1 percent. That looks bad for the banks.
But consider the vast middle ground. In all, 78 percent of bank customers said they were very satisfied, satisfied or somewhat satisfied. The total for credit union customers was 73 percent. So while the banks lost out among those who had very strongly positive or negative feelings, those in the middle were fairly content, regardless of whether they patronized a bank or credit union.
And that looks good for the banks. Because, as the people at Harris Interactive acknowledged in their statement about the survey, switching is a time-consuming and complex task.
"While only one-quarter to one-third of big bank customers are experiencing a positive overall relationship, almost half are likely to continue to use the same institutions," the pollsters said. "Are we at a tipping point? Community and regional banks, along with credit unions, are providing consumers with more information, help and tools to make informed financial decisions. Will these initiatives combat the historical inertia?"
Either way, banks might not be all that unhappy to lose some of their customers -- if those who bolt are not just dissatisfied, but unprofitable as well. Will you stick with your current bank or credit union or make a switch and why?
Follow me on Twitter: @marciegeff