Statistics, Facts, & Such
There were 94,822 ATMs at the end of 1993, and 140,000 by the end of 1996. The number of ATMs in service is expected to reach 220,000 by the year 2000.
When the first ATMs were placed in retail locations the merchant paid the bank for the privilege of having it there. Now the bank pays the merchant, on the average, between 20% to 50% of transaction fees charged to the ATM customers.
Bankers concerned about workplace violence should note that last year employee attacks on bosses made up 17% of the incidents. Employee attacks on one another accounted for 57%.
The average balance in delinquent credit card accounts is $1400.
In the early 1990's it cost about $40 to open a new account. It is now almost $100, and is expected to climb to $200 by the year 2000.
Direct mail solicitations from credit card companies will reach a record 3 billion pieces of mail sent during 1997. That translates to an estimated 30 offerings for each household. Response is estimated at 1.2%
More than 80% of U.S. consumers have credit cards. The average consumer has four general purpose accounts, 59% of which are active.
According to McKinsey, 50-60% of a bank's accounts are unprofitable.
The Mortgage Bankers Association of America says 35% to 40% of mortgage applications are now refinancings, compared to about 15% to 20% normally.
Fannie Mae says the average loan origination costs the lender $2,400, with another $800 in expenses that are passed through to the borrower.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 12, 12/97
First published on 12/01/1997