Survey shows CU members unlikely to add new services in 2018

A survey by analytics firm CFI Group asked 487 credit union members to rate their member experience with their primary financial institutions, as well as other questions. Disappointingly, only 20 percent of respondents say they plan to sign up for new credit union services next year. Half of CU members said they were not sure […]

A survey by analytics firm CFI Group asked 487 credit union members to rate their member experience with their primary financial institutions, as well as other questions. Disappointingly, only 20 percent of respondents say they plan to sign up for new credit union services next year. Half of CU members said they were not sure and 30 percent are definitely not planning on adding new services.

The age of the member may factor into those decisions. About a third of “younger millennials” (18 to 25 years old) said they expect to add services in the next year, but only 27 percent of older millennials (those 26 to 34) said the same. Only a few Gen Xers (18 percent) and Boomers (14 percent) said they plan to add products in the coming year. Read the full article at CU Times.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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