Credit Union Awareness announced this week that they have exceeded consumer consideration goals. According to the second wave of research completed in November 2021, the program surpassed consumer consideration goals by 8 points from the 2019 baseline.
More consumers than ever are aware of credit unions. Unaided consumer consideration for credit unions as lenders has reached 22%, an increase of 8 points from the baseline and exceeding goal by 6 points. In addition, unaided consideration for checking/savings grew to 21%, an increase from the baseline and exceeding goal by 6 points as well. For context, a 1-point increase in consideration is equal to roughly 2 million consumers.
While consumer consideration is the primary objective of the program, the research also measured consumer perceptions of the credit union brand. “It’s clear that once consumers become members, they experience credit unions as exceptional, life long, financial partners” shared Chris Lorence, Executive Director, CU Awareness, LLC. “We are proud of what Credit Union Awareness has achieved in just the 3 short years of the program. The investments that credit unions, leagues, CUNA, and industry partners have made are propelling the movement forward.”
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