The survey was broad in scope, with 57 questions focused on banking, financial knowledge, business and other general questions. More than 1,000 people answered the survey, which was also available online, throughout the month of November 2006.

Part 1: Banking Questions (Questions 1-15)

·           The majority of respondents (84%) use cash to pay their bills. Debit cards rank a distant second at 61%, followed by personal check (47%).

·           Most respondents (88%) are currently using a bank or credit union for financial services. A review of the 825 respondents who identified their current bank/credit union indicated that a majority of respondents banked with SeaComm Federal Credit Union in Massena or the Bank of Montreal, which has a branch office on Cornwall Island. It was not unusual for respondents to list two or more banks on both sides of the U.S./Canada border.

·           A majority of respondents (52%) visited their financial institution a few times per month. A total of 28% of respondents visited their financial institution 2-3 times a week.

·           Most respondents had both a savings account (79%) and a checking account (78%).

·           A total of 68% of respondents said they owned at least one credit card. A review of the 664 respondents who indicated the number of credit cards they own showed that the vast majority (77%) owned between 1 and 3 credit cards. Nineteen out of 664 respondents – less than 3 % - indicated that they held 10 or more credit cards, with two respondents indicating that they owned at least 20 credit cards.

·           A total of 60% of respondents indicated that they currently had some kind of bank loan. Of the 598 respondents who indicated the type of loan they held, 62% were car/vehicle loans of some type.

·           Financial services most required by respondents were:

1)        Checking accounts (82%)

2)        Savings accounts (78%)

3)        Debit card (71%)

4)        ATM access (69%)

·           House mortgage (24%), home repair loans (27%) and business loans (11%) were ranked well down the list of financial services needs.

·           Virtually the same number of respondents (89%) indicated that they would use a credit union created at Akwesasne or a branch office of a local credit union if it were located on the Reserve.

·           Fewer respondents preferred a bank over a credit union (44% to 56%), and a lower percentage of respondents (65%) indicated that they would use a bank branch if one was located on the Reserve.

·           While 28% of respondents indicated that they would be willing to open a direct deposit account and deposit more than $500 each month, a significant number of respondents (20%) indicated that they would not be willing to open a direct deposit account.

Part 2: Financial Knowledge Questions (Questions 16-19)

·           The three major obstacles to financial success, according to survey respondents:

1)        Low paying job (28%)

2)        Too much shopping and spending (24%)

3)    Fixed Income (18%)

·           Most respondents (78%) said they were interested in improving their money management skills and most said those skills should be taught to children in school.

·           Respondents were most interested in learning more about the following:

1)        How to invest their money (52%)

2)        How to set and achieve financial goals (41%)

3)        How to save money (37%)

4)        How to understand my credit report (34%)

·           Basic financial literacy skills, like balancing a checkbook or how to use a credit card were way down the list of priorities for the types of financial education they thought was needed.

Part 3: Business Questions (Questions 20-25)

·           The top five businesses needed the most in the community:

1)        Child care (after work hours) (40%)

2)        Low- and medium-income housing (37% each)

3)        Movie theater (34%)

4)        Home repair (32%)

5)    Elder care (31%)