The Largest Checking and Savings Accounts in the Country Are Found in New Jersey, Connecticut and Massachusetts
February 24 2011 - 9:00AM
Business Wire
As the unemployment rate drops to 9.8 percent, many Americans
continue to save during the emerging economic recovery. According
to Pitney Bowes Business Insight, a global leader in customer data,
analytics and communication software and services, 17 states exceed
the national average of $5,753 in consumer bank savings accounts,
with New Jersey ($7,477), Connecticut ($6,914) and Massachusetts
($6,847) having the largest accounts. Among the 33 states below the
national average, Nevada ($4,794), New Mexico ($4,515) and Arizona
($4,466) ranked as having the smallest.
For consumer bank non-interest checking accounts, the national
average of dollars in an account is $2,947 with 18 states
surpassing that amount. New Jersey ($4,245), Massachusetts ($3,933)
and Connecticut ($3,811) have the nation’s largest non-interest
checking accounts. Kentucky ($2,265), Arkansas ($2,259) and West
Virginia ($2,174) have the smallest non-interest checking accounts
in the country.
According to Pitney Bowes Business Insight, saving accounts in
New Jersey, Connecticut and Massachusetts are the largest in the
country, exceeding the national average by nearly 20-30 percent.
Those same states also lead the country with the most money in
non-interest checking accounts and surpass the national average by
nearly 30-45 percent.
“Comparing information about checking and savings accounts is
just one data layer that can inform the business decisions of our
financial services clients,” said Bill Simmons, director, business
practice leader – financial services, Pitney Bowes Business
Insight. “For instance, when combined with comprehensive data about
consumer behavior, real estate and demographics, financial
institutions can best determine where and how to provide their
services to build strong relationships with their customers.”
About Pitney Bowes Business Insight
Pitney Bowes Business Insight is a software and services company
that provides solutions to help organizations acquire, serve and
grow relationships with customers and citizens. These solutions
enable lifetime customer relationships by integrating data
management, location intelligence, sophisticated predictive
analytics, rules-based decision making and cross-channel customer
interaction management to increase the value of every customer
communication while also delivering operational efficiencies.
Pitney Bowes Business Insight is a wholly-owned subsidiary of
Pitney Bowes Inc. (NYSE:PBI), a customer communications management
technology leader. For more information, please visit
www.pbinsight.com and www.pb.com.
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