Amalgamated Bank
Survey of Progressives
November 3, 2016
1
Methodology
‣ The analysis in this presentation is based on a survey of 800 progressives in the United States. The
poll fielded from September 20-29, 2016.
‣ SKDK fielded a general population survey and then screened out individuals who did not qualify as
progressive. We defined progressives as those who fit all of the following criteria:
-­‐ Self identified as Democrat, Independent or Other
-­‐ Self identified as somewhat or very progressive on a political continuum spectrum
-­‐ Somewhat or strongly agree with the following three statements:
• My political viewpoints are forward-thinking, not traditional
• Politics should be about working together for a common good over the needs of a single
individual
• Politics should embrace emerging social issues, not push back against them
‣ The margin of error on the total sample is +/- 3.46%, larger for subgroups.
‣ There is little differentiation between respondents that identified as somewhat progressive and very
progressive.
Demographics
Gender
Male
Female
39
61
Age
18-24
25-34
35-44
45-54
55-64
65+
Midwest
Northeast
South
West
Progressives
15
30
27
28
Ethnicity
White, Caucasian
Black, African-American
Asian-American
Arab, Middle Eastern
American Indian, Native American
Other
Hispanic
Yes
No
Progressives
4
13
13
13
24
33
Region
Education
Progressives
Progressives
88
9
3
0
1
1
Progressives
5
94
Some high school
High school graduate
Some college
Undergraduate degree
Graduate school/advanced degree
Law degree
Technical education
Economic status
I am very well-off
I am not rich, but live comfortably
I sometimes find it hard to make ends
meet
I often find it hard to make ends meet
Prefer not to answer
Party affiliation
Democrat
Independent
Other
2016 Democratic primary vote
Hillary Clinton
Bernie Sanders
Other
Don’t know
Progressives
0
8
24
34
28
3
3
Progressives
4
51
28
15
2
Progressives
90
9
1
Progressives
63
36
0
1
Progressives’ Mindset
4
Progressives are optimistic about the economy
61
27
12
Right track
Wrong track
Q. Overall, do you think the economy is on the right track or the wrong track?
Don't know
And while a third think their standard of living is getting better, most think it is stagnant
53
30
17
1
Getting better
Staying the same
Getting worse
Q. Do you think your personal standard of living is getting better, staying the same, or getting worse?
Don't know
Overall high favorability towards public institutions except Congress
% Unfavorable
% Favorable
Barack Obama
6
The Military
19
Labor Unions
20
The Supreme Court
Congress
94
78
75
23
83
73
15
Q. Below is a list of individuals and institutions. Please indicate how favorable you are towards each individual or institution.
When asked an open-­ended question, income inequality and unemployment were the top two issues
Income Inequality
23
Employment
23
Health Insurance
10
Government Debt/Spending
8
Taxes
8
Education
7
Entitlements
7
Corporate Power
7
The Economy
7
Climate Change
4
Poverty
3
Defense
3
Infrastructure
2
Other
Don't Know/Refused
7
4
Q. What do you think is the most important economic or financial issue our government should focus on today? [OPEN END]
Once presented with a list of issues, inequality still remains the number one issue that progressives focus on
Income inequality between rich and poor
58
Minimum wage
37
Corporate corruption
31
Income inequality between man and woman
28
Unemployment
27
PACs/Super PACs/campaign funding
25
Federal deficit
24
Federal regulations on corporations
19
Lowering taxes
15
Paid sick leave for all
9
Paid maternity leave for all
8
Welfare
Federal regulation on loan programs
Other
7
5
7
Q. Below is a list of current issues and policies. Which three of the following do you think the government should focus on?
We also tested progressive economic policies. Increasing taxes on the rich leads the pack
Increasing taxes on the rich
63
Investing in clean energy
49
Raising the minimum wage
48
Regulations on Big Banks
46
Reforming student loan policies
32
Increasing funding for job creation
27
Reforming Social Security
21
Reforming loan forgiveness programs
Expansion of banking accessibility
Don't know
9
2
1
Q. Which three of the following economic policies do you support the most?
There is a decent amount of support for policies claimed by conservatives, namely decreasing government debt and cutting taxes for individuals
Decreasing the government debt
62
Cutting tax rates for individuals
57
Lowering government spending
50
Eliminating tariffs and subsidies
22
Decreasing regulations
11
Cutting tax rates for businesses
Privatizing government programs
Don't know
10
8
27
Q. Below is a second set of economic policies. Again, which THREE of the following economic policies do you support the most?
Banks
12
Progressives think banks are always out for their own interest and bankers’ main goal is to make a profit
75
87
18
7
Banks are a
Banks are always
responsible player out for their own
in the economy.
interest,
regardless of their
impact on the
economy.
Don't know
Q. Which of the following statements best describes your
opinion towards banks?
9
Bankers' main goal Bankers' main goal
is to serve their is to make a profit.
customers.
4
Don't know
Q. Which of the following statements best describes your
opinion towards bankers?
The past couple of years have only made the perception of banks worse
51
41
6
2
Gotten better
Stayed the same
Gotten worse
Q. Over the past few years, has your opinion of banks gotten better, gotten worse, or stayed the same?
Don't know
The negative perception of banks seems to apply mostly to large banks and Wall Street
On the contrary, local banks are seen very favorably.
% Favorable
% Unfavorable
Local banks
Large banks
Wall Street
26
70
79
82
18
13
Q. Below is a list of individuals and institutions. Please indicate how favorable you are towards each individual or institution.
A mission to making the world a better place and donating to progressive causes is something progressives say they want from their bank. Part of my bank’s mission should be
dedicated to making the world a better place.
My bank should donate a percentage of
its profits to progressive causes.
83
69
17
11
Agree
Disagree
Q. To what extent do you agree or disagree with each of the following statements?
Agree
Disagree
However, when it comes to choosing a bank, progressive values become less important in comparison to core banking attributes such as trustworthiness, acting ethically and being transparent
Promoting progressive values and donating to causes is significantly less important to progressives when it comes
to banking.
Is trustworthy
86
Acts ethically
83
Is transparent
72
Is accessible for all
64
Is a good corporate citizen
61
Helps customers achieve their goals
57
Promotes progressive values
Donates to causes you believe in
32
22
Q. When considering who to bank with, how important are each of the following attributes? SHOWING VERY IMPORTANT
We tested a number of policy positions. The labels below are used on the next slide for analysis.
Label
Expand security measures
Lower interest rates on student
loans
Paid family leave
Regulation of big banks
Raise the minimum wage
Expand affordable housing loans
Encourage sustainable practice
Push businesses to sustainability
Public support for financial
regulation
Break up big banks
Increase shareholder activism
Statement
Banks should expand security measures to ensure that customers’ money is protected from
cyber-theft.
Student loans should have lower interest rates and offer longer payment periods.
Paid family leave should be available to all individuals who work full-time.
The Federal Reserve should put stricter regulation on the big banks so that banks serve the
economy in a way that works for everyone.
Raising the minimum wage across the nation is imperative.
Banks should expand affordable housing loan programs to individuals, organizations, or
developers involved in community-development projects.
Banks should be responsible for encouraging sustainable practices in businesses by working
with clients who seek to divest from carbon-risk and instead invest in positive climate
solutions.
Banks should increase their role in pushing businesses to change to cleaner and more
sustainable business practices.
Banks and financial institutions should publicly show support for greater financial regulation
through the Dodd-Frank Reform Act.
Breaking up the big banks and mandating more regulations should be a top priority for the next
president.
Banks should increase their shareholder activism—the process of buying shares to launch
shareholder lawsuits and publically push a company to change how they operate.
Again, the policy that directly touches on customer experience – better banking security measures – tops the list
Followed by lower interest rates on student loans and paid family leave.
Strongly agree
Somewhat agree
78
Expand security measures
20
67
Lower interest rates on student loans
98
27
94
Paid family leave
64
30
94
Regulation of big banks
63
30
93
57
Raise the minimum wage
32
44
Expand affordable housing loans
46
Encourage sustainable practices
39
43
Push businesses to sustainability
39
41
37
Public support for financial regulation
Break up big banks
Increase shareholder activism
30
35
17
89
39
32
90
82
80
67
74
49
Q. For each of the following statements, please indicate whether you strongly agree, somewhat agree, somewhat disagree, or strongly disagree.
We then tested banking activities. The labels below are used on the next slide for analysis.
Label
Some charge-free services
Endorses paid leave, minimum
wage
Loans for affordable housing
Statement
A bank that aims to provide affordable and accessible banking to all customers by
providing some charge-free services.
A bank that values progressive advocacy by endorsing paid sick leave and a higher
minimum wage.
A bank that supports community development by providing grants, loans and financial
education programs to those who develop affordable housing.
Loans to stabilize city
A bank that values progressive advocacy by purposefully providing loans to help stabilize
city and community finances.
Practices shareholder activism
A bank that values progressive advocacy by purposefully practicing shareholder activism
to force corporations to change their practices.
Works with unions
A bank that values progressive advocacy by endorsing progressive leaders and working
with unions.
Accepts various IDs
A bank that aims to provide accessible banking to all customers by accepting additional
forms of photo identification, such as municipal ID cards, which do not require proof-ofcitizenship to attain.
Over three-­quarters would consider switching to a bank with some charge-­free services
Accepting various IDs is not something that is received overwhelmingly positively.
Would not consider
Definitely would consider
Some charge-free services
35
14
Endorses paid leave, minimum wage
19
Loans for affordable housing
18
Loans to stabilize city
19
Probably would consider
42
29
77
42
26
71
44
22
70
45
67
Practices shareholder activism
22
18
39
57
Works with unions
25
19
38
57
Accepts various IDS
34
15
Q. How much would you consider switching banks if you found a bank that does each of the following?
32
47
Progressives are an overwhelmingly online banking crowd
Go to a physical bank
Access banking online
47
33
32
25
21
18
10
9
4
1
Everyday
One or more times per
week
How often do you go into a physical bank?
One or more times per
month
How often do you access banking online?
Less than once per month
Almost never
Fun Questions
23
Google is seen as the most progressive company followed by Trader Joe’s, Amazon and Apple
Google
39
Trader Joe's
33
Amazon
32
Apple
31
Starbucks
28
Microsoft
26
Costco
21
CVS Health
10
Walmart
Your local convenience store
7
5
Don't know
Q. In your opinion, which three of the following companies most align with progressive values?
22
Ben & Jerry’s AmeriCone Dream best represents the progressive movement
AmeriCone Dream
32
Everything but The...
7
New York Super Fudge Chunk
7
Coffee Coffee BuzzBuzzBuzz
6
Phish Food
5
Half Baked
5
Don't know
Q. What flavor of Ben and Jerry’s ice cream would you say best represents the progressive movement?
38
A progressive movie character would be from San Francisco or Portland
San Francisco, CA
32
Portland, OR
21
Brooklyn, NY
12
Boston, MA
9
Denver, CO
6
Austin, TX
New Orleans, LA
Don't know
4
3
14
Q. If you were to shoot a movie with a progressive character in it, where would that character most likely be from?
Among those who watch late night shows, Jimmy Fallon is the most popular
The Tonight Show with Jimmy Fallon
14
The Late Show with Stephen Colbert
12
Last Week Tonight with John Oliver
8
The Daily Show with Trevor Noah
7
Jimmy Kimmel Live
5
Late Night with Seth Meyers
2
The Late Late Show with James Corden
2
I don't watch late night shows
Q. Which of the following late night shows do you watch most frequently?
50
The ideal vacation destination is a beach.
The beach
37
A big city
20
The woods
19
A cruise
17
An amusement park
4
Don't know
4
Q. Which of the following would be your ideal vacation destination?