The purpose of the research reported here is to determine the extent of consumers’ desire for information and advice...
Jan 01 2000
Shopping Strategies for Financial Consumers: A Study of Three Markets
This research addresses two questions for financial consumers: Is it worthwhile to shop more than one financial institution to get the best price? And should the choice of institutions among which to shop be influenced by whether an institution is a credit union or a bank?
The study examines price data on five commonly used financial services from six credit unions and six banks in each of three markets. The prices used for comparisons are for products and balance levels commonly held by middle-American households: savings accounts, one-year certificates of deposit, credit cards, unsecured signature loans, and used car loans.
Report Number 56