Financial Service T-Rex Created by m.moebs on 9/25/2022 7:31:29 AM It is not assets that rule the depository businesses. It is having 1,000,000 or more consumer checking accounts, i.e., transaction accounts, or T-Accts for short.
“Tyrannosaurus Rex was the largest and most fearsome dinosaur of all time. BiG Checking has 28 financial institutions (FIs) with 1 Million or more T-Accts. – these are the T-Rexes of financial services,” states Michael Moebs, Economist & CEO of Moebs $ervices (M$) a financial service economic research firm.
“BiG Checking® has 28 Financial Institutions ≥ 1 Million Checking Accounts.”
G. Michael Moebs, Pricing Financial Services, copyright 1986, current edition.
The Participants in BiG Checking
28 FIs rule consumer checking. Collectively, the 28 FIs have more than 400 million T-Accts which is 74% of the entire national consumer market – M$ Checking Survey of September 2022.
The participants in the BiG Checking club range from Walmart at number one in T-Accts with 19.4% of the national market and Bank of America at number two with 12.4% market share to last of the 28 BiG Checking club members, Boeing Employees Credit Union, with just a bit over 1 million T-Accts. Chime and USAA are other BiG Checking members. READ FULL ARTICLE
