Canadians unhappy with the service fees their bank charges them are being urged to switch to credit unions.

A new, national survey conducted by Hamilton, Ont.-based FirstOntario Credit Union reveals that the average Canadian has been with the same bank for more than 15 years, yet more than 40% of those surveyed are unhappy with the high service fees their bank charges them.

The survey, which was conducted in November 2011, polled more than 2,500 Canadians on their banking practices, preferences, satisfaction levels, and asked whether they would be willing to leave their bank. Of those surveyed, 42% indicated they are either ‘unsatisfied completely’ or only ‘somewhat satisfied’ with their current financial institution. Nearly 10% said they are reluctant to switch because it is the only bank they have ever had, or they feel that switching would be too much trouble.

“There are serious misconceptions among Canadians about what’s involved in leaving your bank for another institution, and for many people even the thought of switching is daunting,” says Dave Schurman, executive vice president and COO, FirstOntario Credit Union. “The reality is that if you are unhappy with your bank, switching is simple and straightforward.”

This month, FirstOntario Credit Union is launching a public awareness campaign to educate consumers about the benefits of a community-based credit union over Canada’s big banks.

The campaign’s website (www.MyOwnBank.ca) offers candid testimonials from consumers, links to products and services, as well as a step-by-step guide to empower consumers to make a change.

“January is a time to set new goals, start fresh, and think about ways to improve our lives, so we are urging consumers to change things for the better when it comes to where they put their money in 2012,” says Schurman. “If folks want to make a resolution they can keep this year, they should make it leaving their bank for benefits like free chequing, higher deposit rates and better mortgage rates.”