Hey Banks: Don't tell us how you good you are. Just be good and we'll notice!

I have to admit, I've been baffled by bank billboard advertising for some time now.

Do you know anyone that selected their bank based on a billboard ad?

My reaction is this:

"Don't tell us how good you are. Just be good and we'll notice"

Instead of spending all that money on billboards, here's an idea: Pay better interest on your deposits. Offer lower rates on auto-loans, and lend some money to small businesses.

Time and time again, the best form of advertising is "word-of-mouth" -- it's why sites like TripAdvisor exist (and the zillions of other customer feedback/reviews that you find on consumer products sites that people love so much). They influence purchase decisions in a way random advertising can't even touch.

When it comes to banking here are my recommends:

Want awesome interest on your deposits? Go with INGDirect (btw, they have a large presence in St. Cloud Minnesota -- invest in companies that invest in you) -- Check out their no-load mutual funds while you're there since they took over ShareBuilder.

Want awesome rates on your car loans or visa cards? Look no further than your friendly local credit union. I pay my card balances off every month in full, but that didn't stop Chase from cranking my rate up. Como Northtown offered a 9.9% VISA gold card rate and they gave us an incredible 4% rate on our SmartCar! (and as they say with most disclaimers, "your individual mileage may vary" -- which if you're not driving a SmartCar, it is!) -- It now means that all those vendor transaction fees that Chase was enjoying now goes to support my very local bank, which in turn is reinvested in my community. Thanks Chase!

How about mortgages? Call Steve Page at PrimeSource Funding. Steve has taken care of me for the last seven years through several originations and refinancing deals. He has an amazing way of finding the lowest rates in the industry. Wells Fargo does a fantastic job of servicing our loan and of all the big banks is the one I admire the most.

Interested in stocks that pay dividends? Wouldn't it be cool if you could just put that money on auto-pilot and automatically acquire more shares, at a discount, AND earn fractional shares? Many companies offer Dividend Re-Investment Plans (DRIPS) -- I like using the services of the American Stock Transfer and Trust Company to manage my REIT stocks.

Today's Big Idea: When it comes to banks and banking literally vote with your dollars.

Don't take their word for it. They aren't as awesome as they think they are. Ask around.

Who are you guys and what are you doing here distracting me? The Big Idea Blog is written by David Duccini & David Walbridge