Blog of the Day: Bank Transfer Day's Demographic Surprise

So who exactly made the move on Bank Transfer Day? Was it young, angry hipsters?

Nope, according to Javelin Research: "The surprising finding from our survey of 5,800 people is that those who left large banks in favor of a credit union or community bank … actually trended towards *higher incomes*!" In other words, "they just looked like everyday Americans but perhaps with a slightly fatter wallet."

Javelin's James Van Dyke says in his post today that the young'uns face what he calls: "the Occupier’s Dilemma" – they like the idea of community-based institutions, but are more attached to the large banks' tech offerings. From interviews at Occupy sites he observed: "Occupiers had significant concerns over the general downgrade in electronic capabilities that awaited them at a community institution."

Any dilemma asks for a resolution, and the one he offers up is that all financial institutions should "get people feeling good about paying more for more."