Why Credit Union Awareness?
When the Credit Union Awareness initiative moved from ideation to actualization in early 2019, the vision was very clear—increase consumers consideration for credit unions. And while the “why” remains the same, the world around us has completely transformed.
It is more important than ever for us to redouble our efforts on the initiative that was created FOR credit unions BY credit unions. The credit union message is resonating with consumers, and Credit Union Awareness is ensuring that credit unions are top of mind with the 56% of American’s who don’t have a relationship with a credit union.
The Your Money Further™ program has proven that raising consideration is an effective way to begin a consumer journey to credit unions. We're now seeing the program deliver direct consumer traffic to participating credit unions which over time will become an annuity for credit unions.
Nader Moghaddam, President/CEO
Financial Partners Credit Union
State of the Industry
Credit Union Market Share Is Stagnant
Credit union market share has remained stagnant at roughly 7% for the last three decades. Big banks continue to dominate the market, and now our industry is also facing the threat of Fintechs.