As Community Bankers Gather in Washington, New Polling Confirms Public Support for Local Banking

May 02, 2022

ICBA Press Release Banner 2020

ICBA polling conducted by Morning Consult on community banks, credit unions

Washington, D.C. (May 2, 2022) — The Independent Community Bankers of America (ICBA) today is kicking off the 2022 ICBA Capital Summit in Washington with new national and state-level polling data showing Americans in all 50 states view community banking favorably.

Available on ICBA’s new “Public Opinion of Community Banks” dashboard, the ICBA polling conducted by Morning Consult in all 50 states found that more than three in four U.S. adults say locally based lending decisions are important when determining where to bank. In ICBA’s polling, 69% of U.S. adults cited the importance of banking with a locally based financial institution while 70% cited the importance of personal banking relationships.

Additional ICBA polling found 89% of adults said it is important that their institution is part of the regulated banking system, while 61% said it is important that their financial institution does not receive taxpayer subsidies — raising questions about public support for credit unions’ tax and regulatory exemptions.

“As community bankers representing the nation’s nearly 50,000 community banking locations assemble in Washington to advocate reforms that will expand economic opportunity in local communities, new ICBA polling demonstrates the extent of community bank favorability among consumers,” ICBA President and CEO Rebeca Romero Rainey said. “With polling conducted by Morning Consult showing Americans deeply value community bank leadership in small-business and agricultural lending, ICBA is proud to help community banks support local communities nationwide.”

During advocacy meetings with policymakers this week, community bankers will discuss the following key policy issues to ensure their continued strength and ability to serve their customers in urban, suburban and rural America:

This week’s Capital Summit also draws a range of influential speakers who will address community bankers as they advocate in Washington. Speakers include:

  • Senate Banking Committee member Mike Rounds (R-S.D.).
  • Acting Comptroller of the Currency Michael Hsu.
  • FDIC Acting Chairman Martin Gruenberg.
  • Consumer Financial Protection Bureau Director Rohit Chopra.
  • Assistant Treasury Secretary for Financial Institutions Graham Steele.
  • CNN political analyst and USA Today columnist Kirsten Powers.

Results of the 50-state polling conducted by Morning Consult are available on ICBA’s “Public Opinion of Community Banks” dashboard.

About ICBA
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.

With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

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