Creating loyalty with members of all generations
Stand apart from the competition by helping members of all ages with overall financial wellness.
Credit unions face more financial service competitors than ever before and are challenged with attracting new members and retaining existing ones. But there is one way credit unions can help their members, stand apart from others, and create loyalty: by helping members with their overall financial wellness.
We highlighted some strategies to help credit unions find new ways to focus on the financial wellness of their members in our most recent report, How to Be a Valuable Partner to Consumers in Difficult Economic Times.
The average person is more concerned about their financial lives than ever before and is looking for a partner who can help. A June 2022 survey from Bankrate found that nearly 60% of consumers feel they don’t have enough money set aside for emergencies.
A quarter of American households don’t have emergency savings.
We may not be experiencing a severe recession, but high interest rates and persistent inflation are hurting the consumer dollar.
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