Americans Residing in Urban Areas Find Certain FI Crises Unforgivable More So Than Those in Suburban & Rural Areas

New survey from York Public Relations finds geographic region a factor in how Americans perceive certain crises

ATLANTA, Feb. 4, 2021 – York Public Relations, the nation’s only brand awareness and crisis PR firm dedicated exclusively to mitigating crises for financial institutions and fintechs, announced today that Americans residing in urban areas are more likely than those residing in suburban and rural areas to find certain crises more offensive. The survey was conducted online by The Harris Poll on behalf of York Public Relations, garnering responses from 2,053 U.S. adults age 18 and older.

Nearly one-quarter (22%) of U.S. consumers surveyed would end a relationship with a financial institution if it was involved in an organizational misdeed, such as a sexual harassment scandal or fraud. Of those, 28% resided in urban areas, compared to 19% in suburban and 20% rural. Additionally, younger consumers tend to be more turned off by organizational misdeeds with 26% each of Gen Z (ages 18-26) and Millennials (ages 24-39) compared to Boomers (ages 56-74) at 16%. Gen X (age 40-55) were in the middle at 23%.

According to the survey, 17% of Americans would break up with their financial institution following negative reviews of comments on social media. Of those concerned, 23% resided in urban areas, compared to just 14% each of suburban and rural. One-quarter (25%) of Gen Z and nearly one-quarter (23%) of Millennials would part ways with their bank or credit union if it received negative reviews on social media, compared to just 9% of Boomers.

Additionally, 11% of Americans would end a relationship with a bank or credit union after a robbery, however, there was a greater concern among those residing in urban areas at 19%, compared to 7% in suburban and 10% in rural.

“Our latest survey reveals the importance of knowing your customers and members, especially during a crisis,” said Mary York, CEO of York Public Relations. “For financial institutions with branch locations in both larger cities and rural areas, it is crucial to know how certain emergencies may be perceived. How you communicate with each group is vital in minimizing damage.”