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Fee transparency, inertia, and friends and family are three of the biggest determinants in whether a member joins a new credit union or engages with another financial institution, according to new research from Chicago-based Yes Marketing.

The firm’s survey of 1,000 financial services customers found that 43% of respondents first heard about their current financial services provider from family or friends, and 57% said the thing that most influenced their trust in that financial institution was whether it provided comprehensive, up-front information about fees, rates and services.

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