December 10, 2017 About | Contact | CUNA News [ Log in ]

Article Tools

CUNA Research Reports

CU Snapshot

 Oct '17Sep '17
# of CUs5,8155,849
Members
(millions)
113.4113.2
Total Assets
($ billions)
$1,389.5$1,390.9
Total Savings
($ billions)
$1,168.6$1,107.9
Net Cap.
Assets
10.8%10.7%
Loans to Savings83.1%82.1%
Loan Delinq.0.8%0.8%

         Credit Union Indicators

Target Middle-Income Americans

Four tips for reaching this demographic.

Nearly two-thirds of middle-income nonmembers would consider opening an account at a credit union, according to recent TruStage research.

The study defines middle-income Americans as those between 30 and 70 years old with household incomes ranging from $25,000 to $100,000. This represents roughly 36% of the U.S. adult population and 42% of credit union members.

"If we can reach this group and educate them on the benefits of membership, there's a good chance we can influence them to join a credit union," says Angie Fuhrken, director of marketing strategy and commercialization at TruStage, CUNA Mutual Group's consumer brand.

Fuhrken offers four tips to promote credit unions to this demographic:

1. Find opportunities to reach new members through a community presence and continue to deliver superior member service.

2. Encourage members to share their member experience with family and friends.

3. Reinforce the convenience of credit union services with messages about mobile capabilities, a nationwide ATM network, and shared branching.

4. Help these consumers build financial security with low interest rates, fee structures, and payment plans designed to make expenses more manageable.

(Via news.cuna.org)