Survey data confirms credit unions advance the communities they serve.
April 7, 2022
CUNA Deputy Chief Advocacy Officer and Chief Economist Mike Schenk describes financial well-being metrics recently gathered and summarized via CUNA research in this month’s Economic Update video.
“Survey results confirm the nation's not-for-profit, member-owned credit unions are not only consumers’ best financial partner, they also advance the communities they serve,” Schenk says.
He notes that credit union members:
Display substantially greater financial resilience than nonmembers.
Are significantly more likely to use financial education and counseling services.
Are more likely to engage in behaviors that improve financial well-being and say their financial institution has improved their financial well-being.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
