Focus on mobile engagement this financial literacy month
Credit unions, we have to tell you about your future! (Spoiler: It hinges on personalized financial guidance.)
Americans have been on a personal finance roller coaster for the past few years, so it’s no surprise that 77% of consumers are experiencing anxiety about their financial situation.
As consumers face the highest inflation rate since 1981, rising interest rates and a lack of affordable housing, almost half anticipate adding to their debt in the next six months to cover their expenses.
In this uncertain economy, financial literacy is an essential skill. Unfortunately, only 1 in 5 Americans feel they have sufficient knowledge to make sound financial decisions. On the bright side, they know they lack financial skills, and they want to fix it.
Credit unions are on the front lines of their members’ financial literacy battles—but they’re failing. Because of this, consumers are increasingly turning to nonbanks to pick up the slack. To help their members win their finance battles and to stay competitive, credit unions must understand what’s important to them—personalized financial guidance.
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