Your members are worried about their finances

Your members are worried about their financial well-being—and who can blame them? This past year alone, COVID continued to wreak havoc, inflation reached a four-decade high[1], and recession has been a looming threat.

Members may need your credit union more than ever. Luckily, you have the tool that might help to lessen their anxiety: life insurance. Life Insurance Awareness Month is a great opportunity to educate members about the role this important coverage can play.

Consumers of All Ages Are Worried

According to findings from CUNA Mutual Group’s What Matters NowTM (WMN) research[2], although financial worries cross generational lines, one group stands out in every category: Millennials. This generation reached adulthood just as the 2008-2009 recession hit, and their lives have been buffeted by unemployment, student loan debt, exploding housing prices, and, of course, the impact of COVID. They’re closely followed by Gen Xers, who show nearly the same high levels of worry in many categories.

 

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