“Financial Well-being for All is the subtle, but fundamental shift in the credit union promise to amplify what credit unions have always done better: ensuring everyone has complete, affordable access to financial services.” – CUNA/America’s Credit Unions
The reputation built by credit unions as not-for-profit financial institutions is an important one with a great deal of significance. It means credit union members trust they will be viewed as individuals, receiving personalized services focused on their needs. To meet these expectations, a full range of financial services is required. One of the most important of these services is a credit card program designed to support members’ financial goals.
Member Financial Well-being
Making up 31% of consumer payments, credit cards were the most utilized payment method in 2022(Federal Reserve Bank of San Franciso). Credit cards have many empowering benefits, including helping members participate in an increasingly digitized economy. Cardholders can also enjoy a convenient way to make day-to-day digital and POS purchases while building credit to reach larger financial goals like homeownership.
Credit unions, with their close member relationships, are well-positioned to help inform and educate members on responsible, savvy card use so they can make full use of the benefits that come from owning a credit card.
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