If your credit union is in tune with your middle-aged members, the following news probably won't be a surprise: middle-aged Americans are the age group most worried about their personal finances.
If your credit union is in tune with your middle-aged members, the following news probably won’t be a surprise: middle-aged Americans are the age group most worried about their personal finances.
So says Gallup in its 2013 Economy and Personal Finance survey, conducted annually since 2001.
Not having enough money for retirement was the top concern, for both those aged 30-49 and in between 50-64, with not being able to pay for a medical emergency coming in second. In fact, more than two-thirds of both groups admitted to being either very or moderately worried about those issues.
For those in the 30 to 49 group, paying for their children’s college costs also ranks very high on their list of worries. And those concerns are fairly consistent among different income levels.
How is your credit union addressing their concerns?
In addition to providing traditional savings and checking products for members, many credit unions are expanding into additional financial services aimed at their middle-aged members. Dallas-based Neighborhood Credit Union, for example, established Neighborhood Financial Services to assist members with individual retirement accounts, financial and estate planning, investments and insurance services, and more.
Credit Union Resources, Inc., through its premier business alliances, offers a variety of solutions to help credit unions meet their members’ needs. For additional information, please contact Bob Rehm at 1-800-442-5762, ext. 6425 or firstname.lastname@example.org.