CUNA partners with a respected public relations firm to conduct research on personal finance awareness and trends in the United States. This research supports credit unions’ long-standing commitment to Americans’ financial literacy and overall financial well-being. For recent surveys and findings, please see below.
Women in Finance Survey
The Women in Finance Survey was conducted with the objective to find what women’s priorities are when it comes to spending, saving and investing their money. Women’s lack in financial confidence was the key finding in the survey that was conducted.
- Saving for retirement was the number one financial concern for women.
- 401(k)s and pension plans are most used for retirement savings.
- 51.2% of women confessed they are not confident in their financial abilities, despite the fact that 38% of married female respondents manage their household finances.
- Fewer than half of the survey respondents reported following a monthly budget.
Student Loan Survey
The Student Loan Survey was conducted with the objective to find how knowledgeable graduating high school seniors are about the cost of college and their basic understanding of student loans. The survey revealed that students not only lack a general awareness of how much college costs and how debt works but also lack a basic foundation of financial knowledge.
- 50% of high school seniors can’t estimate how much money they will need to pay for college.
- 70% of students polled are confident they will receive a high-paying job upon graduation of college.
- Out of 847 high school seniors polled, 83% didn’t know about their loan rates and 77% didn’t know the expected duration of their existing loan.
- 74% of respondents reported needing a combination of federal and private loans, family money and a job to support their tuition.