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Jun 02, 2004 -- Bank mergers typically disappoint customers
Has your bank gone through a merger yet? A recent survey shows that customers are not as satisfied when a bigger bank takes over their smaller bank. Many people just take it, but about one in five head for the exit. The claims are that the bank loses its personal touch, fees are much higher and everyone you knew gets the boot. So what should you do? Know what matters to you. If you know that the good personal service and no fees are important, then you want to leave. Or if you like bigger banks and more branches and convenience, then you should be fine. There is a natural hierarchy with banks whereby they will eventually sell out to bigger banks. So, it will happen. But you can choose which kind of bank you want to join. And if you don't want to be a member of a bank anymore, join a credit union. Credit unions offer the best deals, and the best service but the least amount of inconvenience.
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