The Credit Union Guide to Opportunities in IoT, Biometrics, and E-commerce

The consumer data in this report was primarily collected from the following two surveys:

• A random-sample survey of 3,200 respondents conducted online in October 2016. The overall margin of error is +1.74 percentage points at the 95% confidence level. The margin of error is larger for subsets. The sample is nationally representative of all consumers.
• A random-sample panel of 3,182 consumers collected online during July 2016. The overall margin of sampling error is +1.74percentage points at the 95% confidence level. The sample is nationally representative of all consumers.

The analysis of financial institutions (FIs) by size was based on where consumers maintain their primary banking relationship. Note that consumers often have multiple relationships with various FIs; however, they can have only one primary relationship. FIs were divided into four categories determined by total deposits as of Dec. 31, 2015, according to rankings by American Banker:

• Giant national banks: deposits greater than $750 billion (JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup)
• Large regional banks: $30 billion to $750 billion in deposits
• Small regional or community banks: less than $30 billion in deposits
• Credit unions: all credit unions