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What Matters Now: Middle-Income Americans and Financial Stability
Tuesday, June 16, 2015 6:25 AM

CUNA Mutual Group has more than 2 million conversations with credit union members each year and a database of more than 65 million credit union members. "What Matters Now" is part of an annual insights program to learn from middle-income Americans and credit union members alike.

TruStage, CUNA Mutual Group’s consumer brand, gathered insights from more than 25,000 individuals using a combination of quantitative, qualitative, and social media research methods. It draws similarities and differences between credit union members and broader middle-income Americans in terms of core demographics and lifestyle preferences to show how this population defines success across generations.

“We use consumer insights to continuously improve our member experience including how we develop media plans, design products and optimize each consumer touch point,” said Susan Sachatello, senior vice president, TruStage. “We plan to continue learning from members and will share our findings with credit unions to better serve them, their members and non-members alike.”

Research Insights

  • 62 percent of middle-income Americans worry about financial stability daily.1
     
  • There is a huge opportunity to serve the unbanked. Thirty-four percent of the individuals included in the research self-identify as having no banking relationship. Understanding this population and engaging them in the credit union value proposition could be a significant source of membership growth.2
     
  • Financial stability far outweighs simply attaining wealth. Sixty-two percent of middle-income Americans worry daily about financial stability, while only 6 percent defined success as having a lot of money.3
     
  • Middle-income Americans:
    • Define success based on family, relationships, and financial stability first.
    • Rank raising good/happy kids first (38 percent) and having a great partner relationship second (36 percent) as measures of success in life. Being financially stable ties with staying in good health (33 percent).4

You can learn more about this research at www.cunamutual.com/whatmattersnow.

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1, 3, 4  CUNA Mutual Group’s TruStage, “What Matters Now” survey results. Dec. 2014
2  GfK Mediamark Research & Intelligence, LLC, 2013 MRI Doublebase, as provided by Hiebing.