MADISON, Wis. (11/16/15)--Reflecting one of the seven tenets that set cooperatives apart from their for-profit counterparts, credit unions exhibit concern for community--a characteristic that also can be an effective marketing strategy, according to a recent E-Scan article.

E-Scan detailed Nielsen survey results that reported factors that “very heavily" or "heavily" influence consumer purchase decisions include:

• Brand trust, 62%;
• Commitment to social value, 43%; and
• Commitment to the consumer's community, 41%.

“Brand trust and reputation are paramount,” said Carol Gstalder, Nielsen senior vice president.

CUNA's research reinforces consumers' preference for social good businesses, especially among millennials.

"Credit unions need to continue to find creative ways to tell their story, particularly to young adults who are vital to the movement's future sustainability,” said Jon Haller, CUNA director of corporate and market research.