Big banks may be gaining in their share of overall deposits, but the money isn’t coming from new customers.
A survey released Monday finds about 1 in 4 big bank customers say they’re considering switching banks in the coming year.
What’s driving customers to local banks and credit unions? The findings from the survey, commissioned by 200 credit unions and community banks and conducted by Harris Poll, reveal what is driving consumers to bank locally has more to do with their focus on trust and service than their desire for more advanced technology with online and mobile apps.
Kasasa CEO Gabe Krajicek, whose company works with a consortium of local banks and credit union to offer free checking and savings accounts, talks about the study in this interview with CNBC’s Sharon Epperson.
(Read more: How Wall Street can win back trust)
—By CNBC’s Sharon Epperson. Follow her on Twitter @sharon_epperson.