Direction Series  New From Synergistics

Overview

Financial institutions continue to build branches at a rapid pace. Today, there are just over 80,000 branches and offices. A key factor in the success of a branch can hinge largely on location. What are key considerations in site selection for branches? [D62]

Strategic Questions

• What lifestyle factors drive the choice of the primary branch location?
• How important is branch location in the consumer’s decision to open their first account with an institution?
• How important is branch location with regard to customer retention?
• What is the most prevalent mode of transportation to the primary bank branch?
• How far do consumers typically travel to their primary bank branch?
• Are consumers satisfied with their financial institution’s number of branches and locations?
• Are there alternative branch locations that have significant potential?

List of Exhibits

1. Location of Primary Branch
2. Location of Primary Branch by Level of Urbanization
3. Importance of Branch Location in Account Opening
4. Importance of Branch Location in Continuing Relationship
5. Typical Mode of Transportation to Primary Bank Branch
6. Mode of Transportation by Level of Urbanization
7. Typical Distance Traveled to Primary Bank Branch
8. Average Distance Traveled by Level of Urbanization
9. Importance of and Satisfaction with Branch Locations
10. Importance of and Satisfaction with the Number of Branches
11. Usage of and Potential for Alternative Branch Locations
12. Summary of Branch Location Considerations by Type of Area
13. Monthly Frequency of Branch Visits
14. All U.S. Banking Offices