VIEW THE ‘LUNCH WITH ED’ SESSION BELOW NEWS FLASH: Consumers are not rational. They will not always choose credit union...
Jan 01 1993
Consumer Relationships with Financial Institutions
Professor Lepisto’s research is based on a panel of 2,450 consumers who were surveyed in 1991 and will be surveyed again every four years thereafter. His project’s combination of aging-related variables and consumer financial behavior scales will permit measurements of effects of aging on consumer financial behavior, “trigger points” in people’s lives that cause a shift in financial consumer behavior, and other relationships that will help forecast consumer financial behavior.
His first report, based on his 1991 survey of consumers, analyzes consumer attitudes toward credit unions, banks, and savings and loans. He examines consumers’ evaluations of financial institutions on functional attributes, such as hours, convenience, and loan rates; feelings and emotions, such as security, attachment, and satisfaction; and the types of people they associate with each financial institution. He also examines what financial institutions consumers use for various financial services, their primary financial institution, their switching behavior among financial institutions, and the reasons associated with those switches.
Report Number 1006