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For Immediate Release September 21, 2006
Contact: Cristi Allen
callen@decisionanalyst.com
Phone: 817-640-6166
Bank Of America Is Most Widely Used Bank,
According to Study By Decision Analyst
ARLINGTON, Texas – By a wide margin Bank of America is the most often
used consumer bank in the U.S., according to a nationwide survey by Decision
Analyst, a leading international marketing research and marketing consulting
firm.
Earlier this year Decision Analyst conducted a Financial Services Study in
which it asked participants to name their "primary financial institution.''
Most often cited was Bank of America, named by 14.4 percent of respondents. It
was followed by Washington Mutual, named by 5.4 percent of respondents, and
Wells Fargo Bank, NA, mentioned by 4.8 percent of respondents. Others were
Wachovia, with a 4.1 percent response; Chase/JP Morgan Chase, with a 4.0
percent response; and Citibank, 2.2 percent. Various other banks and credit
unions were mentioned, but none by more than 2.0 percent of survey respondents.
By gender, the highest percentage of men (14.5 percent) and women (14.2
percent) named Bank of America as their primary financial institution.
Washington Mutual was second, named by 6.0 percent of all women and 4.7 percent
of all men.
By income, respondents earning $75,000 or more per year most often identified
Bank of America as their primary financial institution (18.4 percent), followed
by Washington Mutual (7.2 percent of those respondents). Among those earning
$40,000 or less, Bank of America was named primary bank by 14.3 percent of
respondents, Wells Fargo Bank by 5.9 percent of respondents, and Washington
Mutual by 5.5 percent.
For its Financial Services Study, conducted earlier this year, Decision Analyst
surveyed a statistically balanced sample of 627 respondents who had bank loans,
liens, or demand accounts. The study's margin of error is plus or minus four
percent.
About Decision Analyst
Decision Analyst Inc. (www.decisionanalyst.com), based in the Dallas-Fort Worth
area, is a leading international marketing research and marketing consulting
firm specializing in advertising testing, strategy research, new product
development, and advanced modeling for marketing decision optimization. The
27-year-old firm delivers competitive advantage to clients throughout the world
in the consumer packaged goods, telecommunications, retail, high technology,
medical and pharmaceutical, utilities, and e-commerce industries. In addition,
Decision Analyst operates the American Consumer Opinion® online panel, one
of the world’s largest Internet consumer opinion panels, with more than
six million participants.
For additional information contact:
Cristi Allen
Publicity
Email: callen@decisionanalyst.com
Phone: 1.800.ANALYSIS (262.5974)
Address: 604 Avenue H East
Arlington, TX 76011
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