ATLANTA – Despite the hype around mobile, bricks and mortar still play a key role in financial consumer satisfaction and retention, according to a recent survey.

Indeed, branch closures result in customer/member losses, according to a Synergistics Research report entitled, “Branches in a Digital Age.” The study showed that in response to branch closures during the past year, 30% of those whose branch closed moved their accounts to another institution. In addition, 28% of branch users report they would switch financial institutions if their current branch closed.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.