FINAL REPORT. February 28, 2012

Transcription

1 100 LIBERTY CITY BANKING SURVEY FINAL REPORT February 28, Brickell Ave, Suite S-200 Miami, FL Phone: Fax: Website:

2 EXECUTIVE SUMMARY The Metropolitan Center at Florida International University conducted a telephone survey of 406 residents of the Liberty city area from January 30 through February 17, The purpose of the survey was to provide estimates of household size, and to assess consumer expenditures and needs. The survey results show that the majority of area resident have positive views of banks. The majority (78.6%) believe banks are trustworthy and 66.0% indicated the same of credit unions. Having a bank is important for most residents (86.5%) and the majority (85.0%) has accounts at a bank or credit union. Of the 61 respondents who do not have a bank account, 26 or 42.6% indicated they have no use for a bank and 18 or 29.5% prefer to keep their cash on hand There appears to be some demands for banks in the area, as 18.4% of respondents disagree with the statement that there are enough banks in the area. Moreover, 27.8% of those who have a bank account reported that their primary bank is not located in their area. The most widely used banking services were checking (82.5%) and savings accounts (64.5%), followed by debit (42.9%) and credit cards (37.2%). Since the respondents were allowed to provide multiple answers, the results show that most respondents use a bundle of services. The majority of those who have checking/savings account (74.5%) have not paid a low balance fee over the past 12 months. However, 11.0% (38 respondents) have paid a low balance fee at least once but no more than three times, and 5.2% (18) paid such a fee more than four times. The percentage of residents who use banks is inversely related to the percentage of those who do not use check cashing services at places other than banks. The majority (74.4%) reported they almost never do, while 11.1% do it only once or twice a year. However, 14.5% cash checks at places other than banks at least a few times a year and do so for a variety of reasons including to get money faster (32 respondents), and because the place where they cash their checks is more convenient than a bank (30 respondents). A larger percentage of respondents in retirement age cash checks at places other than banks (20.2%), than younger ones (6.8% in age group). A small percentage of respondents (12.3%) have considered borrowing money or obtaining a credit card in the past 12 months. Of those 50 respondents, 38 considered obtaining a credit card, 6 considered a home mortgage loan, and 4 contemplated a small business loan. A significantly larger percentage of younger (20.5% in the age group) than older respondents (1.7% in the 65+ group) indicated they have considered borrowing money or obtaining credit in the past 12 months. While there is a multitude of factors that the respondents consider important when choosing a bank, the ones mentioned as important by the largest percentage of respondents include a comfortable environment in the bank (91.9%), the bank offering a full range of services (82.0%), and the bank having ATM s at many locations (81.3%). Some of the factors of importance are age specific. For example, proximity to place of residence, availability of ATMs at many locations and online access to their account and bill payment are important for significantly larger percentage of younger residents. The difference in preference is also related to the different levels of digital literacy across age groups. Overall, 57.1% of respondents have access to a computer with Internet service and 34.0% indicated they bank online. Across age groups, 76.9% of respondents aged bank online, only 40.0% of those aged and 20.0% of those older than 65 indicated the same. Similar observations can be made in reference to cell phone ownership and use. Overall 65.5% of the respondents have a cell phone. However, none of those older than 65 indicated use their cell phones to access the Internet, compared to 63.6% of those years of age. Additionally, while only a third (32.5%) would prefer online banking to visiting a bank branch, the preference for online banking is much stronger among younger respondents (70.5%) than those of retirement age (5.1%). 1

3 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 METHODOLOGY... 3 OVERALL SURVEY RESULTS... 4 DEMOGRAPHIC INFORMATION... 4 ATTITUDES TOWARDS FINANCIAL SERVICE PROVIDERS... 6 USE OF FINANCIAL SERVICES FROM BANKS AND CREDIT UNIONS... 8 MOTIVATIONS FOR USING A BANK USE OF ONLINE BANKING OPEN-ENDED COMMENTS Figure: General Attitudes towards Banks... 6 Figure: General Attitudes towards Banks by Age... 7 Figure: Bank Use and Location... 8 Figure: Bank Use by Age Group... 8 Figure: Bank Services Used... 9 Figure: Bank Services Used by Age Group Figure: Bank Services Used by Income Group Figure: Use of Pre-Paid Cards Figure: Factors of Importance when Choosing a Bank Figure: Factors of Importance when Choosing a Bank by Age Figure: Factors of Importance when Choosing a Bank by Income Figure: Use of Internet Figure: Use of Internet by Income Figure: Use of Cell Phones* Figure: Technology Comfort Levels Figure: Technology Comfort Levels by Age Figure: Technology Comfort Levels by Income APPENDIX A: OVERALL RESULTS 22 APPENDIX B: RESULTS BY AGE 47 APPENDIX C: RESULTS BY INCOME.. 82 APPENDIX D: SELECTED CROSSTABULATIONS

4 METHODOLOGY The 406 survey responses were collected from a random sample of Liberty city area residents. The respondents were adult household members who were informed at the survey start of the general purpose of the survey to learn whether the financial institutions in your area meet the residents needs. The survey instrument was designed by the client, in collaboration with the FIU Metropolitan Center. The questionnaire included general questions assessing attitudes towards and trustworthiness of financial service institutions, use of various services, and the use of technology for banking and financial transactions. The survey also collected demographic information from the participating respondents. A filter question was used at the beginning of the survey for the purpose of selecting respondents who have responsibility over making financial decisions for their household. The results are based on respondents who indicated they participate a lot or some in making financial decisions for their households. The survey participants were obtained from a list of approximately 4,500 households with address locations within the two mile radius of the Liberty city area. Responses were solicited by expert interviewers fluent in English, Spanish, and Creole, and responses were collected in the respondent s language of choice. The survey was implemented over a three week period, from January 30 through February 17, Survey calls were made in the evening on workdays, as well as on Sundays, from noon until 7 pm, excluding holidays. The 406 survey responses provide for a 95% confidence interval and a +/- 5% margin of error. It should be noted that the survey was conducted over the phone with the adult householder who answered the phone. All demographic questions were asked at the end of the survey, and responses were collected and analyzed regardless of demographic characteristics. Moreover, calls were only made to landline phones and this method of response collection over samples people of higher age, income and educational attainment. By comparison, cell phone only users are younger, less affluent, less likely to be married or to own their home. 3

5 OVERALL SURVEY RESULTS DEMOGRAPHIC INFORMATION In the survey sample, 140 respondents were male (34.5%) while 266 were female (65.5%). The majority of the respondents completed the survey in English (86.7%), while 9.6% provided their responses in Creole and 3.7% in Spanish. Respondents were distributed across the four ZIP codes which include sections of the Liberty City area with the majority of respondents from ZIP codes and (27.6% and 43.1% respectively). Approximately 12.6% reside in ZIP code and 16.7% in Almost a third of the respondents (31.3%) refused to provide their income. Those who agreed to provide their household income were in the following income ranges: Under $20, % $20,000-$40, % $40,000 - $60, % $60,000 - $80, % $80,000 - $100, % OVER $100, % *The letter K will be used hereafter to denote 1,000 (one thousand). In terms of employment, more than a third of the respondents (39.4%) indicated they are employed full time, while 31.3% were retired. In addition, 10.3% were employed part time 9.4% indicated they were unemployed The distribution of respondents by age group is as follows: 8.4% were in the age group 13.3% were in the age group 16.3% were in the age group 14.8% were in the age group 2.5% were students, and 2.0% were homemakers. 13.3% were in the age group 16.0% were in the age group 13.3% were in 75 years of age and older The respondents were also asked to provide an estimation on the occurrence of a number of life events over the next twelve months. Their responses are as follows: 25.1% would start college 21.2% would move 18.7% would start a new job 12.6% would remodel their homes 9.9% would start a business 9.9% would purchase a home 8.4% would retire 6.2% would undergo a major medical procedure 4.9% would get married 4.4% would have a child 3.9% would expand an existing business 3.4% would get divorced or separated 2.5% would begin a technical or vocational program 2.0% would have someone move into their home for an extended stay 33.5% estimated none of the above events would occur in the next year 4

6 ATTITUDES TOWARDS FINANCIAL SERVICE PROVIDERS The survey included general questions which gauge the attitudes of residents towards financial service providers. The results of these questions are presented below. The majority of Liberty city area residents share positive views of banks, with 64.2% indicating that the community benefits from having a bank branch located within the neighborhood. Having a bank account is important for almost nine out of ten residents (86.5%). However, 78.8% believe there are enough banks in their area. Figure: General Attitudes towards Banks The community benefits from having a bank branch located within the neighborhood. 64.2% 23.9% There are enough banks in my area. 78.8% 18.4% Having a bank account is important to me. 86.5% 11.6% Strongly/Somewhat Agree Unsure Strongly/Somewhat Disagree Having a bank account is important to a higher percentage of respondents in the age range(90.0%) than respondents in the age group (84.1%) or the 65 and over group (83.2%). However, older residents are less likely to see benefits from having a bank branch located in their community. While 72.8% of respondents in the age group agree the community benefits, only 64.4% of those in the age range and 57.2% older than 65 indicated the same. Residents have different views on banks depending on their income category. While having a bank is important for 100% (42 respondents) of those with income over $60,000, only 76.0% of those with income under $20,000 reported the same, as well as 84.2% of those in the $20-40,000 income range and 95.3% of those in the $40-60,000 range. The percentage of those who agree there are enough banks in their area is largest among residents with income over $60, %, and decreases in the lower income groups, down to 68.0% in the under $20,000 group. 6

7 The residents positive attitude towards banks is further demonstrated in the trustworthiness they assign to banks, especially in comparison to other financial service providers. While 78.6% of residents believe banks are trustworthy and 66.0% indicated the same of credit unions, only 16.3% had the same opinion of check cashers/payday lenders. There are no significant differences across age groups in terms of their trust in banks, however, a smaller percentage of residents older than 65 (57.1%) finds credit unions trustworthy than those in the younger age groups (70%). Instead, more older residents indicated they were neutral on this issue with regards to credit unions, possibly because of their sufficient lack of knowledge of this type of financial institution. A larger percentage of residents in the 65+ age group find check cashers untrustworthy (53.8%) than those in the younger age groups. Figure: General Attitudes towards Banks by Age Banks 78.6% 15.6% Credit Unions 66.0% 9.6% Supermarkets 44.3% 22.2% Check cashers/payday lenders 16.3% 48.7% Liquor stores/convenience stores 11.3% 57.2% Pawn shops 5.9% 69.2% Trustworthy/Very trustworthy Neutral Not trustworthy/highly untrustworthy 7

8 USE OF FINANCIAL SERVICES FROM BANKS AND CREDIT UNIONS The majority of respondents (85.0%) have an account with a bank or credit union. The majority of those who have and account with a bank or credit union indicated their primary financial institution is located in their area of residence (72.2%). Figure: Bank Use and Location Do not have an account, 15.0% Have an account, 85.0% Bank not in area, 27.8% Primary bank located in area, 72.2% A higher percentage of respondents in their retirement age do not have an account at a bank or a credit union (25.2%), than the younger age groups. Figure: Bank Use by Age Group 88.6% 90.0% 74.8% 25.2% 11.4% 10.0% Have an account Do not have an account 18-34% The percentage of residents who have a bank account increases from the lower income categories to the highest one. While 62.0% with income under $20,000 have a bank account, the same is true for 85.1%, 93.0% and 100% of those in the $20-40K, $40-60K and over $60K categories respectively. 8

9 Of those 61 respondents (15.0%) without a bank account 28 or 45.9% had an account but chose to close it, 14 or 23.0% never had an account anywhere, 6 or 9.8% reported that the bank closed their account, and Others indicated a variety of other responses, including not having enough money, not needing an account or not wanting one The respondents who do not have a bank account expressed a variety of reasons for not having one. Of the 61 respondents who do not have a bank account, 26 or 42.6% indicated they have no use for a bank 18 or 29.5% indicated they prefer to keep their cash on hand 9 or 14.8% do not trust bank 9 or 14.8% do not have enough money to need an account For 4 respondents or 6.6% the minimum balance requirement is too high 4 respondents or 6.6% indicated that the bank did not make them feel comfortable Other reasons include the absence of banks in close proximity (2 respondents) and a language barrier at the bank (3 respondents) Additionally, none of the respondents indicated the following statements as a reason for not having a bank account The banks in the area do not have the type of services I need The service charges are too high Bounced too many checks or had too many overdrafts The bank had inconvenient hours The bank took too long to clear checks The survey respondents in the retirement age who do not have a bank account do not believe their need one, and would not be motivated by any type of offering to open an account. The majority of those 85.0% of respondents who indicated they own a bank account have a checking (82.5%) or a savings account (64.5%). Business loans, remittance services and personal loans are the least used types of financial products by Liberty city area residents. Figure: Bank Services Used 9

10 Checking Savings Debit card Credit Card ATM card Mortgage Money orders Personal loan Remittance services Business loan 82.5% 64.5% 42.9% 37.2% 36.0% 16.3% 15.0% 3.9% 3.4% 2.0% 0% 20% 40% 60% 80% 100% There are some important differences across age groups on the types of bank services they use. The figure below shows that a smaller percentage of older residents use a bundle of services provided by banks. (The percentages exceed 100% because the respondents could provide multiple answers.) Figure: Bank Services Used by Age Group % 20.2% 23.5% 45.4% 71.4% % 47.8% 52.2% 68.9% 88.9% % 40.9% 54.5% 81.8% 86.4% ATM card Credit Card Debit card There are also significant differences across income groups on the types of bank services they use. The figure below shows that a larger percentage of affluent respondents utilizes all types of services, apart from checking accounts. Figure: Bank Services Used by Income Group 10

11 Checking Savings Debit card Credit Card ATM card 95.2% 100.0% 97.7% 87.1% 95.2% 75.0% 77.9% 64.5% 71.4% 52.5% 53.5% 58.1% 76.2% 70.0% 39.5% 12.9% 81.0% 60.0% 41.9% 25.8% Over $60K $40-60K $20-40K Under $20K The majority (74.5%) of those who have either a checking or a savings account indicated that during the last twelve months they have never paid a low balance fee. However 11.0% (38 respondents) have paid a low balance fee at least once but no more than three times, and 4.1% (14) paid such a fee more than six times. A larger percentage of respondents 65+ indicated they have never paid a low balance fee (85.2%), compared to 72.2% of those in the age group and 56.5% in the age group. A larger percentage of respondents in the lower income categories (80.6% with income under $20K) indicated they have never paid a low balance fee, compared to 69.0% of respondents with income above $60K. Although some respondents use check cashing services at places other than banks, the majority (74.4%) reported they almost never do, while 11.1% do it only once or twice a year. However, 14.5% cash checks at places other than banks at least a few times a year and do so for a variety of reasons including To get money faster (32 respondents), The place where they cash their checks is more convenient than a bank (30 respondents), Not having a bank account (27 respondents), and Feeling more comfortable than in a bank (13 respondents) Consistent with the result mentioned above in reference to older respondents being more likely not to have a bank account, a larger percentage of respondents in retirement age cash checks at places other than banks (20.2%), than younger residents (6.8% of those in age group). Respondents in the higher income categories are less likely to use check cashing services at places other than banks. While 60.0% of those with income under $20K 11

12 indicated they had almost never cashed a check at a place other than a bank, 90.5% of those with income over $60K reported the same. The majority of respondents receive payments via direct deposit (61.1%) but a significant percentage (19.5%) receives checks. Additionally, 6.7% receive cash payments while 3.4% receive pre-paid cards. A small percentage of respondents (12.3%) have considered borrowing money or obtaining a credit card in the past 12 months. Of those 50 respondents 38 considered obtaining a credit card, 4 contemplated a small business loan, 6 considered a home mortgage loan Two thought about a line of credit Of those 50 who considered borrowing money or obtaining a credit card, 18 applied and were approved 16 applied and were denied 12 did not apply because they do not believe they would be approved 2 do not know how/where to apply, and 2 only considered but never took any steps beyond. A significantly larger percentage of younger (20.5% in the age group) than older respondents (1.7% in the 65+ group) indicated they have considered borrowing money or obtaining credit in the past 12 months. Liberty city area residents were asked about their use of financial services that are traditionally offered by providers other than banks. With regards to these services 12 respondents (3.0%) have used a payday loan 12 (3.0%) have sold items at a pawn shop 12 (3.0%) have used a layaway 4 (1.0%) have obtained a tax refund anticipation loan 2 ( 0.5%) have had a rent-to-own agreement The overwhelming majority (93.6%) have not used any of these services The MAIN reasons why the respondents themselves or anyone in their households needed either of these financial services, payday loan, selling items at a pawn shop, layaway, a tax refund loan or rent-to-own agreement include For basic living expenses (9 respondents) To make up for lost income (5 respondents) For house repairs or to buy an appliance (5 respondents) For car repairs (5 respondents) For special gifts or luxuries (2 respondents) For medical expenses (1 respondent) For school or childcare expenses (1 respondent) Liberty city area residents were also asked to indicate their level of use of pre-paid cards, and the majority (92.1%) indicated they have never used such cards. Only 2.0% (8 respondents) have used pre-paid cards more than six times. 12

13 Figure: Use of Pre-Paid Cards 4.9% 1.0% 2.0% Never 1-3 times 92.1% 4-6 times 12

14 MOTIVATIONS FOR USING A BANK More than a third of the 61 respondents who do not have a bank account (39.3%) would not be motivated to open an account for any reason. For the rest of the respondents, the motivating factors would be Checking services (8 respondents) Savings options (6 respondents) ATM card (6 respondents) Having a job (5 respondents) Having money (5 respondents) Debit card (4 respondents) Money orders (2 respondents) The most frequently mentioned factor of importance when choosing a bank for the Liberty city area residents is that the bank has a comfortable environment (91.9%), followed by the bank offering a full range of services (82.0%) and having ATMs at many locations (81.3%). Figure: Factors of Importance when Choosing a Bank Has a comfortable environment Offers a full range of services Has ATMs at many locations Is located close to where I live Is open on Saturdays Has many branches Has drive-through tellers Online access to my account Is a national bank Is open on Sundays Online bill payment Is a credit union 91.9% 82.0% 81.3% 79.1% 70.2% 62.3% 59.8% 53.9% 51.2% 48.2% 42.8% 30.0% 5.4% 15.8% 15.8% 17.7% 27.1% 23.4% 36.4% 42.8% 35.2% 48.6% 52.9% 34.0% 0% 20% 40% 60% 80% 100% Important/Very important Neutral Not important/of little importance 13

15 There are some significant differences across age groups in terms of the importance they ascribe to different factors when choosing a bank. For example, access to online banking is important for a larger percentage of younger respondents Figure: Factors of Importance when Choosing a Bank by Age Has a comfortable environment Offers a full range of services Has ATMs at many locations Is located close to where I live Is open on Saturdays Has many branches Has drive-through tellers Online access to my account Is a national bank Is open on Sundays Online bill payment Is a credit union 80.6% 96.7% 97.7% 69.0% 85.5% 90.9% 58.0% 88.9% 97.7% 68.9% 82.3% 90.9% 52.1% 77.8% 79.5% 52.1% 63.3% 72.8% 46.2% 67.8% 68.2% 18.5% 62.2% 51.3% 47.8% 56.8% 29.4% 56.6% 56.8% 11.7% 52.2% 70.5% 17.7% 43.4% 15.9% 90.9%

16 There are a few motivating factors when choosing a bank which are important for a significantly larger percentage of respondents in the higher income groups. The overwhelming majority of more affluent respondents indicated a comfortable bank environment and access to ATMs at many location as factors of importance when choosing a bank. Also, digital bank access seems to be of greater importance for the more affluent respondents. Figure: Factors of Importance when Choosing a Bank by Income 100.0% Has a comfortable environment 97.7% 92.1% 78.0% 90.5% Has ATMs at many locations 95.3% 85.2% 58.0% 76.1% Online access to my account 65.1% 28.0% 61.4% 61.9% Over $60K Online bill payment 51.2% 51.5% $40-60K $20-40K 20.0% Under $20K 15

17 USE OF ONLINE BANKING A small majority of respondents (57.1%) indicated they have access to a computer with Internet service. Overall, 27.6% shop online 34.0% bank online 27.1% use automatic bill pay 60.1% of respondents do not engage in any of the above activities Figure: Use of Internet Shop online 27.6% Bank online 34.0% Automatic bill pay 27.1% None of the above 60.1% There are significant differences across age groups in Internet access, with 88.6% of those in the age group having Internet access, compared to only 70.0% of those in the age range and 16.8% aged 65+. o A larger percentage of respondents in the younger age groups conduct financial services online than older residents. For example, while 76.9% of respondents aged bank online, only 40.0% of those aged and 20.0% of those older than 65 indicated the same. Internet use is also related to respondent s income. While only a third (34.0%) of respondents with income under $20K have access to a computer with Internet service, 90.5% of those with income over $60K indicated the same. 100% Figure: Use of Internet by Income 90.5% 80% 60% 40% 34.0% 55.4% 67.4% 20% 0% Under $20K $20-40K $40-60K Over $60K 16

18 Approximately 65.5% of the respondents have a cell phone. In general however, only 27.1% use their cell phone to access the Internet 37.9% send messages on their cell phones 27.1% regularly use apps on their cell phones 60.1% do not engage in any of the above activities Figure: Use of Cell Phones* Use cellphone to access Internet 27.1% Send text messages 37.9% Regularly use apps 21.7% None of the above 57.1% *The percentage total exceeds 100 percent as the respondents could provide more than one answer. Younger Liberty city area residents are more likely to own and use cell phones. o 90.9% of those aged have cell phones and 63.6% use their cell phones to access the Internet o 73.3% of those aged have cell phones and 39.4% use their cell phones to access the Internet o 37.0% of those older than 65 have cell phones and none of them use their cell phones to access the Internet A larger percentage of affluent Liberty city area residents own cell phones and use them to access the Internet for various reasons. o 48.0% of those with income under $20K have cell phones, compared to 62.4% and 69.8% of those with incomes $20-40K and $40-60K respectively, and 95.2% of respondents with income over $60K. o Only 8.0% of respondents with income under $20K use their cell phones to access the Internet, compared to 76.2% of those with income over $60K. Most respondents are not comfortable using their cell phones for financial transactions. Only 7.9% feel comfortable with the idea of managing their money through an app or text messages on their cell phones Only 26.4% are comfortable with the idea of using their cell phones to make purchases just like if it were a credit card Approximately a third (32.5%) would prefer online banking to visiting a bank branch. 17

19 Interestingly, only 23.9% believe bank branches are necessary for the types of financial services they use. This result may be correlated with 74.4% of respondents preferring to receive regular payments through direct deposit, i.e. as more employees receive their paychecks via direct deposit, there is less need for bank branches. Figure: Technology Comfort Levels I prefer to receive regular payments through direct deposit. 74.4% 17.0% If I had a bank account, then I would prefer online banking to visiting a bank branch in person. I am comfortable with the idea of using my cell phone to make purchases just like if it were a credit card. Bank branches are necessary for the types of financial services I use. I am comfortable with the idea of managing my money through an app or text messages on my cell phone 32.5% 26.4% 23.9% 7.9% 63.5% 70.0% 69.5% 74.9% Strongly/Somewhat Agree Unsure Strongly/Somewhat Disagree 18

20 Younger respondents expressed a stronger inclination to use technology for financial services and transactions than older residents. Figure: Technology Comfort Levels by Age I prefer to receive regular payments through direct deposit. 58.8% 84.1% If I had a bank account, then I would prefer online banking to visiting a bank branch in person. 5.1% 70.5% I am comfortable with the idea of using my cell phone to make purchases just like if it were a credit card. 7.6% 56.8% Bank branches are necessary for the types of financial services I use. I am comfortable with the idea of managing my money through an app or text messages on my cell phone 0.8% 36.1% % % 56.9% 19

21 Income levels influence the willingness of respondents to conduct online transactions. While 52.3% of those with income over $60K feel comfortable using their cell phones to make purchases, only 4.0% of those with income under $20K indicated the same. Conversely, a larger percentage of respondents in the lower income categories feel that bank branches are necessary for the types of financial services they use. Figure: Technology Comfort Levels by Income I prefer to receive regular payments through direct deposit. If I had a bank account, then I would prefer online banking to visiting a bank branch in person. 54.0% 38.1% 48.8% 29.7% 16.0% 80.9% 93.0% 78.3% I am comfortable with the idea of using my cell phone to make purchases just like if it were a credit card. 4.0% 52.3% 39.6% 33.3% Bank branches are necessary for the types of financial services I use. I am comfortable with the idea of managing my money through an app or text messages on my cell phone 14.3% 18.7% 31.7% 38.0% 38.0% 30.3% 23.7% 4.0% Over $60K $40-60K $20-40K Under $20K 20

22 OPEN-ENDED COMMENTS Upon the completion of the survey the respondents had the opportunity to provide additional information. Below are the comments of those respondents who chose to provide such. Gender Language Zip Household Income Comment Male English OVER $100,000 They should open lending to small business, considering I am a business owner Male English OVER $100,000 The most important thing is safety when it comes to banking. and lending is very difficult. I have a construction business and it is hurting. Non- profit have to raise they're own money for most projects. Female English NO RESPONSE The bank had allowed an institution to withdraw money from my account without my knowledge for school loans payments. I believe it is not right. They were taking too much time to clear the checks and checks bounced a few times because of that. I have to pay balance fees because of that. I believe my money should be available as soon as I deposit a check. Now, I use my pre-paid debit card and I have a credit union Female English NO RESPONSE Some credits should open at least all day on Saturdays, even if they have to close one day in the week to accommodate for that time. Female Spanish Under $20,000 She would like to have a closer bank facility, has to go to downtown for the bank. Female English $20,000-$40,000 No bank located in walking distance of the residence. Female English NO RESPONSE My main concern is that bank usually like to give you a credit line even though they know you might get denied. Male English NO RESPONSE My banks are giving good services, but return on interest are very low. Male English OVER $100,000 lend to small businesses Female Creole NO RESPONSE if there were more bank, the would be more job probably. Female English NO RESPONSE if one has credit card, it should be easy to apply for a low interest rate Female Creole NO RESPONSE I have an account with Bank of America and someone obtained a debit card with my bank account and took all the money on the account. Someone also filed taxes with my daughter's social security number. Female Creole NO RESPONSE I don't trust online activities much because of theft. Female English NO RESPONSE I don't trust banks at all Female English NO RESPONSE I am an old lady. I have never used banks here in the US. I am from the islands. Female English $40,000 - $60,000 Banks don't have enough protection around their ATMs in Liberty City. 21