CUNA's Member & Nonmember Survey Results

Does College Make a Difference?

College students are more likely than noncollege students to be credit union members.

July 30, 2013
The 2013-2014 CUNA Member and Nonmember Survey Results explored financial attitudes and behaviors of young adult consumers, those ages 18 to 24.
The survey examined how these consumers use credit unions and banks, and how young nonmembers’ knowledge—or lack of knowledge—of credit unions might differ among young adults attending college and among high-school graduates not attending college.
The survey revealed:

►Nearly half (49%) of respondents ages 18 to 24 are currently in college.

►College students are more likely than noncollege students to be credit union members (25% versus 17%).

►College students are much more likely than noncollege students to have bank accounts (83% versus 62%).

►The banks these two groups use have identical Net Promoter Scores (scores of -1% ).

This means banks have as many “promoters” among these two groups as they have “detractors.”

The Net Promoter® model is a tool Satmetrix developed for loyalty assessment. It asks consumers one question: How likely would you be to recommend your credit union (or bank) to friends, family members, or co-workers?

►College students and noncollege students who are nonmembers are equally unaware of credit unions’ services and rate/fee advantages.
For both groups, about 25% are “not very familiar” with credit unions, and another 45% are “not at all familiar” with credit unions.