From Yahoo Finance: 2025-04-18 13:02:00

The majority of Americans (96%) have a bank or credit union account, according to the most recent FDIC data. Not everyone sticks with the same bank for the long haul. Some people stay longer than they probably should, while others might not stay long enough. So, how long should you stick with your current bank or credit union? And how often should you switch?

If you’re satisfied with your current financial institution, stick with it. But if you’re not, that’s probably a sign it’s time for a change. Tansley Stearns, president and CEO of Community Financial Credit Union, suggests switching when your current bank isn’t meeting your needs or values. Take the time to evaluate what you need from your bank.

There are so many signs that your financial institution is no longer the best option for you. According to Susan Espinosa, vice president of Member Experience at Skyla Federal Credit Union, some signs include feeling stuck or limited with your financial institution, feeling pressured into unwanted financial products, and not receiving personalized attention or support.

If you’re ready to switch banks, you’ll want to find one that meets your needs and values. Espinosa advises looking for a bank or credit union that genuinely cares about your financial health rather than just their own bottom line. Do your research before making a decision and choose an institution that aligns with your goals.

Read more: How Often Should You Really Switch Banks? Experts Weigh In