The ongoing pandemic has changed Americans’ views on work, finances and quality of life. Many Americans now put mental health and time with friends ahead of things like income and retirement account balances. Whether these views become permanent remains to be seen, but for now they are a significant change that bank and credit union marketers need to take into account.
This isn’t to say, of course, that people don’t care about money. They of course do, but that has changed also. Many are taking a closer look at their bottom line, focusing on budgeting to grow their finances and increase their resilience in a more volatile economic environment.
Banks and credit unions have an opportunity to deepen relationships by ingraining digital tools and financial information into the customer experience, especially for those experiencing financial hardship. That’s the conclusion of KeyBank’s 2022 Financial Mobility Survey.
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