Community Bank survey results disprove banker claims

According to the Conference of State Bank Supervisors (CSBS) Annual Survey of Community Banks, community banks overwhelmingly identify large banks and other community banks as their primary competitors, not credit unions. 

Yet, community bank trade groups continue to push a false narrative that credit unions are “creeping into their space.” The data tells a different story. 

“It’s the height of hypocrisy,” said Jim Nussle, President and CEO of America’s Credit Unions. “Community banks tell Congress that credit unions are a threat, while telling regulators that they’re not even on their radar. 

Credit unions don’t compete for profits, they compete for people. They serve Main Street families, small businesses, and rural communities that Wall Street ignores and community banks can’t always reach.” 

The survey results make it clear: credit unions are not the problem. The real competition for community banks comes from industry consolidation and the largest financial institutions dominating the marketplace. 

What community banks told their regulators: credit unions aren’t their competition.

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