Research

Survey: How Banks Deal With Discrimination

Most Feel Their Banks Have Strong Policies

Keith Griffin

June 16, 2020

Black Lives Matters demonstration | Photo by Karen Eliot on Flickr

Discrimination in the United States is a huge concern with 76% of Americans believing racism is a big problem (up from 51% in 2015). A survey of our readers suggest community banks and credit unions are facing the issue head-on.

In our weekly newsletter, we asked these questions:

  • Our bank is among the leaders in combating discrimination
  • They're good, but our staff doesn’t reflect our community’s population
  • Despite our policies, discrimination still takes place
  • Our bank must ‘walk the walk’ through hiring and outreach

What the survey showed across the 10 states our publications cover is 81% of those responding believe their financial institutions are among the leaders in combatting discrimination.

A similar volume of responses was received for the question of banks needing to “walk the walk” through hiring and outreach and the belief that most banks’ policies are good but the staff’s composition doesn’t reflect their communities. Both answers received 7% of the votes.

What could be most encouraging is the small number of respondents who think despite good policies, discrimination still exists. Only 4% of the answers held that belief.

It’s important to note this is an unscientific survey. It was not weighted for demographic balance.

Photo credit: Karen Eliot via Flickr

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