How Many Facebook Likes Should Banks and Credit Unions Have?

The Financial Brand has monitored the social media activity for thousands of financial institutions on Facebook and Twitter over the last five years, one thing has become clear: building a social media community in banking is hard. Very hard.

If you’re like most every other bank or credit union in the financial industry, you’ll have less than 1,000 ‘Likes’ on Facebook. On Twitter, you’ll have fewer than 250 followers. But what if you’re a top performer — among the industry’s social media elite? How many ‘Likes’ might you have? Roughly one for every $500,000 your financial institution has in assets.

Using The Financial Brand’s Power 100 tool, a database of financial institutions with the most Facebook ‘Likes’ and Twitter followers, you can analyze the size of the social media communities built by banks and credit unions in the U.S. relative to their asset size.

Among all financial institutions in the Power 100 database, the average is over $700,000 in assets for every one ‘Like’ on Facebook, and $5.8 million for every one follower on Twitter. Again, remember: these are stats for the top banks and credit unions using social media today.

Comparing banks vs. credit unions, it seems that not-for-profit financial cooperatives have an easier time building their social media communities. Among the top banks on Facebook, the average assets-per-Like works out to $834,749. But for credit unions, this number drops down to $140,826 — a factor of six.

Only one credit union in 112 generates more than one ‘Like’ for every $100,000 in assets they have, while only one bank in 1,000 generates more than one ‘Like’ for every $100,000 in assets they have. In other words, if you have 2,000 ‘Likes’ on Facebook and $200 million in assets, you are in rarified air — among the top 1.0% to 0.1% of financial institutions on earth.

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Assets Per Like for the Top 10 US Banks on Facebook

Bank Assets Facebook Likes Assets Per Like
Capital One $300 billion 3,200,000 $92,825
Chase $2 trillion 2,700,000 $741,499
BofA $2.1 trillion 2,000,000 $1,051,000
Citi $1.7 trillion 1,100,000 $1,521,242
Wells Fargo $1.5 trillion 733,800 $2,080,948
USAA $125 billion 713,400 $171,298
TD $220 billion 529,100 $415,153
US Bank $389 billion 175,700 $2,214,001
PNC $317 billion 174,100 $1,818,001
Ally $100 billion 151,500 $670,267

Assets Per Like for the Top 10 US Credit Unions on Facebook

Credit Union Assets Facebook Likes Assets Per Like
Navy $63 billion 1,100,000 $56,823
America First $6.3 billion 138,200 $45,237
Mountain America $4.1 billion 134,900 $30,013
The Golden 1 $8.5 billion 47,000 $181,012
Suncoast $5.8 billion 47,000 $123,741
San Diego County $6.4 billion 36,400 $179,534
OnPoint $5.3 billion 33,800 $104,265
Scott $964 million 33,100 $29,114
SchoolsFirst $10.4 billion 31,500 $330,959
Kinecta $3.4 billion 30,000 $112,453

Assets Per Follower for the Top 10 US Banks on Twitter

Bank Assets Twitter Followers Assets Per Follower
Citi $1.7 trillion 347,000 $4,822,381
BofA $2.1 trillion 345,000 $6,092,754
Goldman Sachs $110 billion 213,000 $514,235
Wells Fargo $1.5 trillion 118,000 $12,940,678
Capital One $300 billion 101,000 $2,940,990
USAA $125 billion 72,700 $1,680,935
Chase $2 trillion 33,000 $60,668,091
TD $220 billion 28,000 $7,844,909
Fifth Third $130 billiion 24,800 $5,249,447
Associated $26 billion 22,800 $1,119,479

Assets Per Follower for the Top 10 US Credit Unions on Twitter

Credit Union Assets Twitter Followers Assets Per Follower
Navy $63 billion 66,600 $938,515
Liberty Bay $670 million 9,715 $68,947
The Golden 1 $8.5 billion 7,944 $1,070,940
Mountain America $4.1 billion 6,831 $592,708
Generations $514 million 6,706 $76,714
Michigan State University $2.7 billion 6,007 $441,716
America First $6.3 billion 5,371 $1,163,986
San Diego County $6.4 billion 5,177 $1,262,325
OnPoint $3.5 billion 4,786 $736,346
NuVision $1.3 billion 4,707 $277,459

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