Think Small and Local

Small financial insitutions and credit unions have been noticing deposit increases over the last three months. Americans are weary of big banks and many of their customers are turning to smaller, local financial institutions. 

While the other banks were failing, credit unions noticed an increase in small business customers and requests for housing loans. Credit unions are seeing growths of nearly 50% from last year. The smaller the financial institution, the more appealing it is to customers. Large banks can't compete with the deposit and loan rates that credit unions have to offer.