TCF National Bank recently relaunched TCF Free Checking,  In the midst of the recession, all banks changed policy and products due to government regulations.  The banking industry completely changed.  The consumers were ready to turn their backson banks and keep their money under their matresses.  I work in that industry and I saw people everyday coming in to close accounts left and right.  TCF lost a lot of clientele and profits were not rising as they were planned.  After two years, TCF decided to take charge and listen to its customers.  They went through six months of market research in many major cities, one of them Chicago.  Their research findings were not shocking, customers wanted less fees, no minimum balances, and a bank that listens to its customers.  Well TCF did exactly that and re-introduced TCF Free Checking.  They launched the biggest marketing campaign in TCF history to promote it, and results have been great!

Executive management did a wonderful job with the business strategy, because right now TCF is one of the top dogs in the industry.  I think more companies should follow TCF’s approach to it’s customers and their business strategy.