How credit unions are re-establishing trust in the financial services sector
When’s the last time you considered a credit union for your banking or loan needs?
Perhaps the better question is: When’s the last time you truly felt like your bank had your back?
After the financial crisis and subsequent economic downturn of the last several years, consumers and businesses alike have struggled to adjust to the new normal. Furthermore, According to the 2015 Edelman Trust Barometer, public levels of trust in business are at its lowest since 2008. Which basically means that the aftermath of the recession, and all of its various fear-inducing facets, still lingers.
It would make sense, then, that organizations would be best served to focus on enhancing their “net positive contributions” to society in order to earn the trust of consumers. While big brands seem to do this fairly well, as established Corporate Social Responsibility programs assume a significant amount of time and focus (and are often attached to government and public affairs initiatives), the financial services sector has seemingly struggled to make the necessary shift toward a “pro-consumer” mindset.continue reading »