Update 1 Million+ Checking Club Created by m.moebs on 6/8/2022 4:33:58 PM
The Million+ Checking Club is growing and is now 31 financial institutions (FIs).
Can David (FIs < Million Accounts) beat Goliath (FIs > Million Accounts)?
Goliath is more than 74% of all checking accounts. Read how David can win.
Transaction Accounts are More Valuable than Loans Due to COVID
Lake Forest, IL (June 8, 2022) The 1 Million+ Checking Account Club now has 31 members with fintechs (FTs) Walmart and Chime leading the way. Since year end, 1 club member fell out, and two more jumped into 1 Million+ Checking status.
“With only 8,736 depositories offering checking services, down from over 48,000 in 1969, those with one million or more transaction accounts (T-Accts) will dominate this business,” says Michael Moebs, Economist, CPA, & CEO of Moebs $ervices (M$), an economic research firm. “The 31 financial institutions (FIs) are headquartered across 16 states with Chicago, Boston, New York, and San Francisco the locations of 8 FIs.” READ FULL ARTICLE