Survey: Bank Customers Seek Mortgage, Auto Loan, College Savings Advice

consumersurveygraphicconsulttheirbankTwo in five Americans say they plan to consult their bank for advice in the next year, with the most common topics for advice being auto purchases, mortgages and saving for college, according to a recent ABA/Ipsos survey.

Fifteen percent said they would seek advice on a car loan, while 14 percent said the same about a home mortgage. Eleven percent said they would look for guidance on financing their own education, while one in 10 said they would look for information about their children’s education. Finally, 10 percent said they would seek advice on retirement planning and 9 percent on financing a home remodeling project.

“Banks can be effective partners in helping customers improve their financial well-being and achieve some of life’s biggest milestones,” said ABA SVP Nessa Feddis. “Bank employees pride themselves on listening to their customers, helping them to identify goals and connecting them with the financial solutions they need.”