Members recognize credit unions’ consumer-friendly approach

Updated data from America’s Credit Unions’ Consumer Pulse Survey shows the credit union difference resonates with members, including those of key demographic groups, according to the latest Economic Update from America’s Credit Unions’ Mike Schenk.

The Consumer Pulse Survey polled 2,500 consumers in February with questions centered on financial behaviors and outcomes, trustworthiness, and connections to the local community. Women, people of color, lower-income consumers, rural residents, military households, and business-owner households are among the key demographics studied in the survey.

“The survey results make it abundantly clear that credit union members view credit unions differently—and much more positively—than their counterparts view the institutions they use,” Schenk said. “That’s true basically across the board, in every metric we look at, in the demographic groups we focus on, and over time.”

The data indicates this stems from “credit unions’ more consultative approach, more consumer-friendly pricing thoughtful products and services, and an overall sense of trust fostered by member-ownership.”


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