Fiduciary fickleness figures fortunately for finances
What's your savings account earning these days, 0.001% interest?
That's quite paltry but like the credit card industry, the best rates go to the newest recruits.
It's all just marketing, and as business banks need to make money, that money's got to come from somewhere.
And now that banks can no longer print money by selling your mortgage downstream until it's nothing but a hazy memory, the loyal customers that have stuck around through thick and thin are left paying for all that lost revenue through high rates, service fees, convenience fees, bum-scratching fees and just about any other kind of fee they can dream up.
If banks are going to be players in the post-20th century economy, why do they still have such high overheads? Even a humble credit union now features appointments worthy of a Frank Lloyd Wright art installation, even when there is a lot less actual hard cash being transacted by us space-hogging humans. Banks should start playing leaner and smarter in the post-apocalyptic economy, especially if they're getting barrow loads of money from the government.
As for the loyalty thing, banks are businesses, and loyalty is a marketing concept. You can stay with the same bank for decades and they'll turn you down flat for a loan when you need it most. So why should you be the faithful partner in this fake marriage of customer and bank? Make 'em work for your business. Let them know you're going to chase the best deal, and they can match it, or lose a great customer. You could so easily change things by opening a new account somewhere else.