Summer spending expected to heat up: How credit unions can win with a member-centric payments strategy

As warmer weather sweeps across the country and it appears that a return to “normalcy” is more reachable than ever, people are seeking escape and looking forward to activating their long-delayed travel, vacation and entertainment plans. And Americans have money to spend! With lockdowns ending and thanks to recent government stimulus checks, the reopening of many businesses and in-person experiences couldn’t have come at a better time.

Following are our predictions for how summer spending is shaping up, as along with some recommendations for how credit unions can meet their members’ payment needs and deepen the member experience.

3 Summertime Spending Predictions

  1. The Return of Leisure Travel: According to polling conducted in June, nearly two-thirds of consumers expect leisure travel activities to return to “normal” by this fall, a rise of 14% since May.

 

 

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