NEW YORK-A new survey of consumers has found none-too-surprisingly that consumers are rating "financial stability" as their top priority when selecting a financial institution.
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The survey, conducted by New York brand strategy firm Lippincott, suggests smaller institutions, including community banks and credit unions, may benefit from the swing in consumer concerns. Steven Reider, president of Bancography, a banking consulting firm in Birmingham, Ala., agreed. "Stability has certainly increased in importance," he said. "We have seen some large names leave the industry in a way that many would have never predicted a year ago. These are times of seismic shifts, and the question is, Is my bank going to be around?"
