Bank Branches: Not Quite Obsolete Yet, But Getting There Have you visited a bank or credit union branch in the past six months? If your answer is “no,” you’re in good company: Bankrate reports that nearly four in ten Americans could say the same thing. In fact, the percentage of Americans who say they haven’t visited a branch in the previous six months is up 34% from 2014.
Maybe some of this recent spending information should impact how your credit union staff are developming millennial marketing campaings. Perhaps your CU could help these young people avoid overspending or at least moderate their habits! Spendthrifty Millennials - Millennials lived through the Great Recession, but now they’re developing some spendy habits, according to some new data from Bankrate. Maybe it’s a form of delayed gratification? Bankrate found that millennials are falling victim to common financial vices, such as spending money in coffee shops, racking up bar tabs or frequently dining out.
This e-Book will help you find the best ways to maximize your digital presence, reaching new potential members while increasing your share of wallet for existing members.
Customer Service: Most Are Willing to Praise, or Complain, Credit Union Member Service is No Different! A surprisingly large number of people (71%) say they are likely to contact a company with feedback after a good customer experience, according to the results of a survey from staffing firm OfficeTeam. The bad news: an even larger number (79%) would reach out after receiving bad service. Whether you are a business or a consumer, you’ve no doubt noticed that there are powerful ways for people to express their feelings about customer service online.
In the Battle between Debt & Savings, Debt is Winning Americans need to save more and borrow less. Lately, though, the credit card has been winning in the eternal battle between debt and savings, a new study from Bankrate finds. Bankrate found that 52% of Americans report they have more money in emergency savings accounts than they do in credit card debt. This is unchanged from 2016. However, the percentage of Americans with more credit card debt than emergency savings has grown from 22% to 24% over the past year. Furthermore, about 1-in-6 Americans (17%) state they have no credit card debt, but no emergency savings either.
Credit union proponents are being asked to fight efforts by the Big Bank Lobby (aka The American Bankers Association) to strip CUs of their tax-privileged status, among other things.
Will 2017 Be The Year of the Family-Friendly Company at Your Credit Union? Workers are clamoring for a more family-friendly workplace, and employers have really started to respond, a new report from staffing firm OfficeTeam finds. How will your credit union fare? OfficeTeam surveyed human resources (HR) managers recently, and found that nearly half (49%) of employers are taking baby steps toward becoming more family-friendly. But, what does it mean to be a family friendly workplace?