Evaluation of Financial Institutions by Bank versus Savings & Loan Customers: An Analysis of Factor Congruency

The usefulness of factor congruency analysis in bank marketing research is demonstrated by a study of the financial services market in a large Midwestern American city, utilising data obtained from consumers by mail survey methodology (eliciting a 34 per cent response rate from a sample of 2,000 residents). The analysis technique provided a formal approach to testing stability of factor structures which relate to choice of banks versus savings and loans. The findings established that consumers' criteria in choosing both financial institutions are generally similar, and it is hoped this will lead to further usage of the technique in future banking research.