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Impacts of relationships on customer retention in the banking industry

Author

Listed:
  • Steven D. Hanson

    (Department of Agricultural Economics at Michigan State University, East Lansing, MI)

  • Lindon J. Robison

    (Department of Agricultural Economics at Michigan State University, East Lansing, MI)

  • Marcelo E. Siles

    (Department of Agricultural Economics at Michigan State University, East Lansing, MI)

Abstract

A survey of rural Michigan banks found that building good customer relationships is an important goal. The financial success of efforts to build relationships depends on the customer loyalty associated with friendly relationships. Customer loyalty was investigated in a survey of financial institution customers located in rural areas. Compared to unfriendly relationships, friendly relationships increased the interest rate differential on deposited funds required for a customer to switch institutions by 74 basic points. © 1996 John Wiley & Sons, Inc.

Suggested Citation

  • Steven D. Hanson & Lindon J. Robison & Marcelo E. Siles, 1996. "Impacts of relationships on customer retention in the banking industry," Agribusiness, John Wiley & Sons, Ltd., vol. 12(1), pages 27-35.
    • Handle: RePEc:wly:agribz:v:12:y:1996:i:1:p:27-35
    DOI: 10.1002/(SICI)1520-6297(199601/02)12:1<27::AID-AGR3>3.0.CO;2-R
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    Cited by:

    1. Robison, Lindon J. & Schmid, A. Allan & Barry, Peter J., 2002. "The Role of Social Capital in the Industrialization of the Food System," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(1), pages 1-10, April.
    2. Bard, Sharon K. & Boehlje, Michael & Craig, Dawn J., 2001. "Borrower Preferences In The Agricultural Credit Market: A Conjoint Analysis," 2001 Regional Committee NC-221, October 1-2, 2001, McLean, Virginia 132404, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    3. Farley, Travis A. & Ellinger, Paul N., 2006. "Factors Influencing Farmers’ Preferences for Lender Attributes," 2006 Agricultural and Rural Finance Markets in Transition, October 2-3, 2006, Washington, DC 133080, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    4. Peter J. Barry & Paul N. Ellinger, 1997. "Liquidity and competition in rural credit markets," Proceedings – Rural and Agricultural Conferences, Federal Reserve Bank of Kansas City, issue Apr, pages 47-77.
    5. Fiechter, Chad M. & Miller, Noah J. & Ifft, Jennifer & Nelson, Blaine, 2024. "Farm Characteristics and Cost of Borrowing," 2024 Annual Meeting, July 28-30, New Orleans, LA 343924, Agricultural and Applied Economics Association.
    6. LeeAnn McEdwards Moss & Peter J. Barry & Paul N. Ellinger, 1997. "The competitive environment for agricultural bankers in the US," Agribusiness, John Wiley & Sons, Ltd., vol. 13(4), pages 431-444.

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