CO-OP is pleased to offer you an extensive research result of credit union members and prospects!
METHOD: In collaboration with CO-OP, EY conducted a market research survey of 2,000 credit union members and 1,000 prospects across all regions of the U.S. to determine preferred banking behaviors.
INSIGHTS: Our research shows that member and prospect interactions and needs have changed in recent years - a trend that has only accelerated during the pandemic crisis. To address these evolving needs and expectations, credit unions must develop a holistic approach towards member and prospect experience by employing “needs-based segmentation.”
Additional insights from the survey illustrate that Primary Financial Relationships (PFRs) are becoming increasingly fragmented, with Fintechs emerging as credit unions’ biggest threat.
- 30% of respondents reported having their PFR with a Fintech firm
- 88% of respondents are digitally engaged with their financial footprint
- 73% of interact online or through mobile only
Get access to the research study to learn how CO-OP can guide you through new service business models in your quest to achieving member relationship growth.