Monday, January 28, 2019

Does Primary Financial Institution Impact Consumers' Choice of Mortgage Providers?

Raddon Research Insights found that consumers, who identify a credit union as their primary financial institution, are more likely to go to their credit union for a mortgage than individuals identifying other financial institutions as their primary financial institutions.

Eighty-three percent of credit union members, who identify their credit union as their primary financial institution, plan to use their credit union for a mortgage.

Only 32 percent of customers who state a major bank is their primary financial institution would use this major bank for a mortgage.

The percentage of regional bank and community bank customers were under 25 percent.

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