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The bank of choice for most small businesses is no bank at all

Credit unions number one!

According to the Canadian Federation of Independent Business's recently released poll, Banking on Service (CFIB, 2010), most small and micro businesses choose credit unions for their banking needs.  Small business owners scored credit unions highest marks in the categories of accessibility, understanding their clients’ business, and credit decision-making authority.

To view an executive summary of the findings, visit http://www.cfib-fcei.ca/english/advocacy/canada/51-banks_finance/1811-banking_on_better_service_.html .

Or find a PDF of the entire report at http://www.cfib-fcei.ca/cfib-documents/rr3111.pdf

Small businesses are defined as those with 5-49 employees, and micro businesses as those with 0-4 employees. Caisses populaires were broken out in the survey to reflect the Quebec system; however, the caisses populaires in Nova Scotia and any falling under New Brunswick's Central, would be classed as credit unions for the purposes of this study.