Credit unions to the rescue: How to help your members survive the cost-of-living crisis (Part 2)

With soaring inflation at the forefront of the cost-of-living crisis for many, credit unions are positioned to rise to the challenge of time by providing tailored solutions for their members. In part two of the blog, we’ll look at what members are now demanding from their financial institutions and how credit unions can effectively answer their call.

What Your Members Demand Now: Advanced Money Management and Personalized Advice

People are seeing their buying power diminish and are feeling greater urgency to get the most out of their monthly budgets. Your members are raising their expectations for the level of support, advice, and money management help that a credit union or bank should provide.

Our survey found that the theme of personalized advice resonated well with banking customers. When asked what digital banking features and support they wanted, 42% said “personalized advice and money management support within their mobile banking app.”

Other survey respondents wanted specific suggestions and helpful alerts, such as how much money they could save each month (30% of respondents), proactive suggestions for how to manage their finances (26%), customized suggestions for lower-cost loans or lower-interest cards (26%) or alerts for subscriptions that they forgot to cancel (26%).


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